One 97 Communications Limited provides payment, commerce and cloud, and financial services to consumers and merchants in India, the United Arab Emirates, Saudi Arabia, and Singapore. The company owns and operates India's leading mobile payments and financial services distribution brand Paytm, which has become synonymous with digital payments in India. It was founded in 2000 by Vijay Shekhar Sharma and is headquartered in Noida, Uttar Pradesh, India.
Founded in 2009, the company offers a variety of products and services, including mobile payments, digital wallets, e-commerce, financial services like loans and insurance, and ticketing services for movies and travel. It has built the largest payment ecosystem with a registered merchant base of 4.2 Crore, and 112 lakh payment devices facilitating over 1,100 transactions as of Q2 FY25.
The company's segments include Payment, Commerce, Cloud, and others. It is in the business of providing payment and financial services, which primarily includes payment facilitator services, facilitation of consumer and merchant lending to consumers and merchants, and wealth management. It is also involved in providing commerce and cloud services, which primarily consists of an aggregator for digital products, ticketing business, providing voice and messaging platforms to the telecom operators and enterprise customers, and other businesses.
The Company provides various services, such as net banking and Paytm payment instruments like wallet, Paytm postpaid (BNPL) to make online payments for mobile recharge, utility bills, rent, education, wallet top-ups, and money transfers using the Paytm app. The company provides digital recharge, utility bills, education and money transfers, and online payment gateways, as well as offline payment modes through QR codes, soundbox, and card machines.
The company provides payment and financial services, which primarily includes payment facilitator services, facilitation of consumer and merchant lending to consumers and merchants, and wealth management. Merchant loan distribution grew to ₹4,315 Crore during the quarter, with over half the loans disbursed to repeat borrowers. To date, one million merchants have availed of loans via the platform.
As of recent trading data, One 97 Communications has a market capitalization of ₹59,398 Crore, making it one of the significant players in India's fintech sector.
The fintech company reported a consolidated loss of ₹539.80 Crore for Q4 March 2025, which was lower than the net loss of ₹549.60 Crore in the same quarter last year. Revenue from operations fell by 15.7% to ₹1,911.50 Crore in the quarter, down from ₹2,267.10 Crore in the March 2024 quarter.
Founder and CEO Vijay Shekhar Sharma gave up stock options worth ₹21 Crore during the quarter, resulting in a one-time expense of ₹492 Crore. After excluding these one-time costs, the company's loss narrowed to ₹23 Crore.
* Revenue from Payment Services segment: ₹1,098 Crore
* Financial Services segment revenue: ₹545 Crore (9% QoQ growth)
* Net payment margin: ₹578 Crore (including UPI incentive); ₹508 Crore (excluding it)
* Average monthly transacting users (MTUs): 72 million
* Gross merchandise value (GMV): ₹5.1 Trillion for Q4 FY25
Consolidated revenue from operations for the entire year also fell 31% to ₹6,900 Crore from ₹9,978 Crore. One 97 Communications has an operating revenue of ₹6,900.40 Crore on a trailing 12-month basis.
The company has made significant progress towards profitability. Its earnings before interest, tax, depreciation, and amortization (EBITDA), excluding ESOP (employee stock ownership plan) expenses, stood at ₹81 Crore in the March quarter. Paytm has delivered a solid operational turnaround in Q4 FY25, achieving profitability at the EBITDA before ESOP level — a significant milestone in its path to sustained profits.
In February 2024, the RBI ordered Paytm Payments Bank to cease all deposits and credit transactions following some non-compliance issues. However, in March 2024, it received a third-party application provider license to facilitate payments after its banking operations were ceased. In March 2024, Paytm sold its entertainment ticketing business, including TicketNew and Insider, to Zomato for ₹2,048 Crore to focus on core financial services.
The success of UPI placed India in a leadership position with a share of 48.5% in global real-time payments by volume. The company expects MDR on UPI for large merchants to be allowed in the near future, which will result in incremental monetization opportunities.
With India's vast MSME sector presenting major growth potential, the merchant base for mobile payments is estimated at over 10 Crore, with nearly half expected to need software or hardware support. The company is almost debt-free, providing financial flexibility for future growth.
The company's strong market position in India's digital payments ecosystem, combined with its extensive merchant network and diversified financial services portfolio, positions it well for long-term growth as India
