Nevertheless, Motilal Oswal Monetary Providers (MOFSL) tasks a internet lack of Rs 112 crore for the January–March quarter, although it expects the loss to slender each year-on-year and sequentially.
Paytm’s Q4FY25 income is prone to decline 3% to 13%, translating to a topline between Rs 1,975 crore and Rs 2,199 crore.
Among the many brokerages, JM Monetary has essentially the most conservative income estimate, whereas Sure Securities is essentially the most optimistic.
Right here’s what brokerages beneficial:
JM Monetary
One 97 Communications is anticipated to publish a internet revenue of Rs 4.5 crore for the quarter ended March 31, 2025, in comparison with a lack of Rs 551 crore within the year-ago interval and a lack of Rs 208 crore in Q3FY25.
Paytm’s Q4FY25 income is estimated at Rs 1,975 crore, reflecting a 13% YoY decline however an 8% QoQ progress.
EBITDA is prone to stay destructive at Rs 65 crore, although that marks a 71% enchancment each YoY and QoQ. The EBITDA margin is projected to enhance by 660 bps YoY and 889 bps QoQ, although it will nonetheless stay destructive at 3.3%.
JM estimates the corporate’s contribution revenue at Rs 1,108 crore, a 14% YoY decline however a 15.6% QoQ enhance, indicating bettering price efficiencies and operational momentum.
“On a consolidated foundation, income (together with Rs 100 crore UPI incentive) is anticipated to develop round 8% QoQ. Contribution margin is anticipated to broaden by 370 bps QoQ, pushed by a rising share of economic companies — notably from greater take-rates below the DLG mannequin in service provider loans,” JM mentioned in its notice.
The brokerage expects higher working leverage on account of decrease worker prices to push Paytm into adjusted EBITDA constructive territory, with an adjusted EBITDA margin of 6.1%.
Sure Securities
Sure Securities additionally expects Paytm to report a constructive PAT in Q4FY25. It estimates income at Rs 2,199 crore, marking a 3% YoY decline however a 20% sequential progress.
EBITDA is projected at Rs 15.2 crore.
The brokerage clarified that the YoY income drop components within the UPI incentive.
On the fee aspect, Cost Processing Costs (PPC) as a proportion of Funds Income is anticipated to be 51%, down from 56.9% in Q3, largely as a result of incentive.
“We arrive at complete bills (excluding PPC and ESOP expense) rising 5% QoQ, in contrast with a 2% decline in Q3FY25, leading to an EBITDA margin (excl. different revenue and pre-ESOP price) of 10%, up 1200 bps QoQ,” the preview notice mentioned.
Motilal Oswal Monetary Providers (MOFSL)
Motilal Oswal expects Paytm to publish a internet lack of Rs 112 crore, although the loss is prone to slender on each YoY and QoQ bases.
Income is projected at Rs 2,098 crore, down 7.5% YoY and up 15% QoQ.
The brokerage expects working profitability to enhance, pushed by decrease depreciation prices. It additionally sees sequential progress in disbursements and GMV.
The notice added that income progress could be aided by the UPI incentive, and that EBITDA steering could be a key monitorable going ahead.
(Disclaimer: Suggestions, solutions, views and opinions given by the consultants are their very own. These don’t signify the views of Financial Occasions)
