Paytm net loss widens to `550 cr
New Delhi: Fintech firm One97 Communications, which owns the Paytm brand, on Wednesday said its loss in the fourth quarter of the financial year 2023-24 has widened to Rs 550 crore following the ban imposed by the RBI on transactions related to its payments bank. The company had posted a loss of Rs 167.5 crore in the same period a year ago, the company said in a regulatory filing. “Our fourth quarter FY24 results were impacted by temporary disruption on account of UPI transition etc. and permanent disruption because of the PPBL embargo. Paytm reported a revenue of Rs 2,267 crore, a modest decline of 3 per cent Y-o-Y (year-on-year). Our contribution margin was 57 per cent including UPI incentives, and 51 per cent excluding UPI incentives,” Paytm said in a statement.
GE Power India posts `26 cr net profit
New Delhi: GE Power India on Wednesday posted a consolidated net profit of Rs 25.94 crore in March 2024 quarter on the back of higher revenue. The company had reported a loss of Rs 129.70 crore in the quarter ended on March 31, 2023, a BSE filing showed. Total income of the company rose to Rs 469.89 crore in the latest fourth quarter from Rs 359.43 crore in the same period a year ago. The reporting quarter ended with an order backlog of Rs 3,309 crore, down 8.5 per cent compared to Rs 3,615.3 crore in March 2023, a statement said. The company’s consolidated net loss narrowed to Rs 171.33 crore in fiscal 2023-24 from Rs 440.58 crore in 2022-23 as per the filing.
DB Corp net profit up 3-fold to `122.52 cr
New Delhi: Media house DB Corp Ltd on Wednesday reported a nearly three-fold jump in consolidated net profit at Rs 122.52 crore for the fourth quarter ended March 31, helped by a broad-based growth across verticals. The company had posted a consolidated net profit of Rs 41.02 crore in the January-March quarter a year ago, DB Corp said in a regulatory filing. Its revenue from operations was up 16.23 per cent to Rs 617.13 crore during the quarter under review. It was at Rs 530.95 crore in the corresponding period of the previous fiscal. The company said its total expenses in the March quarter was at Rs 480.23 crore, down 2.2 per cent. Its revenue from “printing, publishing and allied business” was up 15.42 per cent to Rs 576.28 crore in the March quarter of financial year 2023-24. While revenue from the radio business was at Rs 41.15 crore, up 29.28 per cent.