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Paytm may report 70% growth in revenue: Goldman Sachs

Paytm stock is currently down 57% from its issue price of Rs 2,150. It will announce December quarter earnings on February 4.

January 31, 2022 / 06:54 PM IST
 
 
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Foreign brokerage firm Goldman Sachs expects fintech major Paytm's owner One97 Communications Ltd to report 70% topline growth year on year for the December quarter, while operational losses are likely to expand on higher ESOP expenses.

The brokerage firm also trimmed the target price of Paytm to Rs 1,600 from Rs 1,630 earlier, which is still nearly 74% higher from its today's closing price. The brokerage firm has remained neutral on the stock.

Paytm stock is currently down 57% from its issue price of Rs 2,150. It will announce December quarter earnings on February 4.

"We expect non-UPI GMV growth of 62% YoY in 3QFY22 for Paytm, an acceleration vs 52% in 2Q; coupled with strong growth in financial services revenues (280% YoY), we forecast 70% YoY topline growth (vs 64% in 2Q) for Paytm in 3Q," said Goldman Sachs in its latest report.