CURRENT AFFAIRS

Detailed explanation-1: -In July 2021, One97 Communications filed a draft red herring prospectus with the Securities and Exchange Board of India to launch its initial public offering (IPO). It launched its IPO in November 2021, raising ₹18, 300 crore (US$2.3 billion) at a valuation of US$20 billion. It was the largest ever IPO in India.

Detailed explanation-2: -As a result, the company’s contribution profit grew 224% YoY to Rs 843 crore, leading to an increase in contribution margin to 44% of revenues.

Detailed explanation-3: -In Q1 FY 2023, the contribution profit at ₹726 Cr represents a 197% YoY and 35% QoQ growth with margin improvement in payments services and growth in high-margin offerings such as loan distribution and commerce services. Our contribution margin improved to 43% in Q1 FY 2023 from 27% in Q1 FY 2022 and 35% in Q4 FY 2022.

Detailed explanation-4: -NEW DELHI : India’s second biggest fintech firm Paytm reported its first-ever adjusted Ebitda profitability in the quarter-ended December 2022, three-quarters ahead of its guidance.

Detailed explanation-5: -Sustained Revenue Growth with Better Profitability Our contribution profit was Rs 1, 048 Cr in the quarter, with margins consistently improving from 31% in Q3 FY 2022 to 51% in Q3 FY 2023 on account of improved profitability of the payments business and growth of high-margin businesses such as loan distribution.