One 97 Communications Ltd was incorporated in 2000 and has grown to become India’s leading digital ecosystem for merchants as well as consumers. As reported on the 31st of March, 2021, the company expands over a 333 million+ client base along with 21 million + registered merchants to whom it provides financial services, cloud services, payment services, and commerce.
Financial Results:
One 97 Communications Ltd.’s revenue in Q3FY23 fell 42% to ₹ 2,062 crores. Consolidated Loss After Tax came at ₹ 392 crores. In this quarter’s results, the reports suggested that the fall in profits are due to the high level of expenditure.
Driven by growth of high margin businesses, such as loan distribution and improvement in payments profitability, the company’s contribution profit experienced a rise of 51 percent of revenue in the third quarter of fiscal year 2023 from 31 percent in the third quarter of fiscal year 2022 and 44 percent in the second quarter of fiscal year 2023.
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