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Paytm Money posts Rs 40 Cr profit in FY23, scale grows 2X

Paytm Money, the trading platform and a wholly-owned subsidiary of One97 Communications, has managed two-fold growth in its scale in FY23. Importantly, the firm has also come into a positive bottomline territory.<br>Paytm Moneyu2019s operating revenue surged to Rs 131.3 crore during FY23 from Rs 64.1 crore in FY22, according to its standalone financial statements filed with the Registrar of Companies (RoC)- reported by Entrackr.

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Paytm Money posts Rs 40 Cr profit in FY23, scale grows 2X

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  1. Paytm Money posts Rs 40 Cr profit in FY23, scale grows 2X

  2. Paytm Money, the trading platform and a wholly-owned subsidiary of One97 Communications, has managed two-fold growth in its scale in FY23. • Importantly, the firm has also come into a positive bottomline territory. Paytm Money Revenue Breakdown • Paytm Money's operating revenue surged to Rs 131.3 crore during FY23 from Rs 64.1 crore in FY22, according to its standalone financial statements filled with the Registrar of Companies (RoC)- reported byEntrackr. • Paytm Money Limited operates as a SEBI-registered Investment Adviser (IA), providing investment services encompassing mutual funds, stock market, NPS retirement plans, among others. • Income from brokerage and depository services were the primary source of revenue for Paytm Money.

  3. Check TheKredible to decode revenue streams for Paytm Money. • The company also has its other income (non-operating) of Rs 1.5 crore from the gain on financial instruments.

  4. When it comes to cost, expenses on employee benefits formed around 30% of the overall expenditure which increased by 17.5% to Rs 26.8 crore during FY23. • This includes Rs 7.82 crore as ESOP costs which were settled in cash. Paytm Money Expense Breakdown

  5. Paytm Money witnessed a rise in advertising and subcontract expenses, while surprisingly, costs associated with connectivity, KYC, and payment gateway services decreased in the previous fiscal year. • View expense pattern of the company on TheKredible. • According to separate filings, Amit Kapoor (chief financial officer), Gaurav Pandit (company secretary), and Deepankar Sanwalka (director) resigned from the company during the fiscal year ending March 2023. If you want to get complete information related to this topic click HERE.

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