Fintech company One97 Communications, which operates under the Paytm brand, on Friday reported narrowing of losses to Rs 221.7 crore for the October-December quarter, according to a filing.

The losses stood at Rs 392.1 crore in the year-ago period.

Revenue from operations jumped over 38 per cent year-on-year to Rs 2,850.5 crore in the third quarter of 2023-24.

Paytm said its third quarter performance was marked by “significant growth in subscription revenue, improved margins, and increased payment business revenue”.

Paytm’s board also approved its Rs 100 crore investment in Gujarat International Finance Tec-City (GIFT City) to establish a global financial ecosystem.

UltraTech net jumps

UltraTech Cement on Friday reported a 67 per cent jump in consolidated net profit to Rs 1,774.78 crore for the December quarter, helped by lower fuel and raw material costs as well as higher sales and operational efficiencies.

The leading cement maker posted a consolidated net profit of Rs 1,062.58 crore in the year-ago period, according to a regulatory filing.

Revenue from operations rose 7.85 per cent to Rs 16,739.97 crore during the period. It was Rs 15,520.93 crore in the corresponding period a year ago.

UltraTech’s total expenses increased 2.88 per cent to Rs 14,531.04 crore.

Hind Zinc profit falls

Hindustan Zinc on Friday posted a 6 per cent decline in consolidated net profit at Rs 2,028 crore during the quarter ended December, dragged by lower income.

It had clocked Rs 2,156 crore net profit during the October-December period of the preceding 2022-23 fiscal, the company said in an exchange filing. On a quarter-on-quarter basis, the company’s profit grew 17 per cent against Rs 1,729 crore in the July-September quarter.

During the quarter under review, the company’s total income reduced to Rs 7,606 crore from Rs 8,214 crore a year ago.

CESC profit declines

Power utility CESC Ltd’s consolidated net profit dipped over 10 per cent to Rs 301 crore in the December quarter, mainly because of higher expenses.

Consolidated net profit was Rs 336 crore in the quarter ended December 2022, a BSE filing showed.

Total expenses rose to Rs 3,497 crore in the quarter under review from Rs 3,141 crore in the year-ago period.

The company’s total income rose to Rs 3,301 crore in the quarter against Rs 3,224 crore a year ago.

The board has declared an interim dividend of Rs 4.50 per equity share (i.e., 450 per cent) on the paid-up equity share capital of the company.

The record date to ascertain the eligibility of members to receive the said interim dividend is February 1, 2024.