INSUBCONTINENT EXCLUSIVE:
Shares of One 97 Communications (Paytm) slumped nearly 8 per cent on Friday as China's Alibaba Group sold its remaining stake in the
hands.
The data released by exchanges showed Alibaba sold 3.3 per cent stake, or 21.43 million shares, at Rs 643 apiece for a total of Rs
Morgan Stanley picked up about 0.8 per cent stake for Rs 314 crore.
Last month, Alibaba sold close to 3 per cent stake in Paytm through a
held a 24.86 per cent stake.
Earlier, Alibaba as an investor made a full exit from BigBasket when the Tata group took over the online
It also exited Snapdeal in 2021
It could not be ascertained if Alibaba has exited Xpressbees, too
it announced Q3FY23 results
It announced operating profitability in its Q3FY23 results with Ebitda before ESOP (employee stock ownership plan) cost at Rs 31 crore
Revenue for the quarter stood Rs 2,062 crore, up 42 per cent year-on-year.
Net loss for the quarter also came down to Rs 392.1 crore, from
Rs 778.5 crore reported in Q3FY22.
Payments revenue grew by 21 per cent YoY to Rs 1,197 crore
The company continued to see growth in payments and loan distribution business
There was a continued expansion of the consumer base with average monthly transacting users (MTU) at 89 million for January 2023, up 29 per
