One 97 Communications Limited
Incorporated in 2000, One 97 Communications Ltd is India's leading digital ecosystem for consumers as well as merchants. As of March 31, 2021, the company has a 333 million+ client base and 21 million+ registered merchants to whom it offers payment services, financial services, and commerce and cloud services.
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One 97 Communications Limited has issued a clarification addressing a recent media report regarding its strategic pivot toward workplace artificial intelligence agents. The company confirmed that investing in and developing artificial intelligence capabilities forms part of its ongoing business initiatives, referencing prior disclosures made during the earnings release and conference...
Resilient plans a block trade selling up to 4.98% of Paytm shares. Economic value goes to Antfin via their OCD agreement. Paytm isn't involved, and the founder's direct stake remains unchanged, impacting ownership structure.
Paytm launched "Split Bills," a new feature enabling users to effortlessly track, split, and settle shared expenses for groups. This expands its financial app ecosystem, aiming to boost user engagement and UPI transaction volume.
Paytm hit record quarterly EBITDA of ₹203 Cr (▲182% YoY) with revenue at ₹2,448 Cr (▲28% YoY). Strong growth across payments (GMV ₹7.1 L Cr) and financial services (revenue ₹814 Cr) is fueled by AI-led operating leverage. Expanding globally, Paytm holds ₹13,529 Cr cash.
One 97 Communications clarifies a Supreme Court ruling on 28% GST for online gaming, involving a former subsidiary with a Rs 5,712 Cr notice, has no impact. This discontinued business has zero investment value and no financial effect on OCL's operations or financials.