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ICICI Securities Report
One 97 Communications Ltd. (Paytm) during its analyst meet reiterated its continued focus on improving profitability. Management stated that the journey to attain operating profitability (Ebitda before ESOP cost) via consistent margin improvement has exceeded its expectations in the past few quarters.
It further emphasised its target to become an free cash flow-generating company in the next 12- 18 months.
Management also enhanced clarity around Paytm's business model by providing additional disclosures with respect to net payment take-rate of 7-9 basis points, average subscription fee (of Rs100 per month per active device), 2.5-3.5% take-rate on loan sourcing and 0.5-1.5% on collections, etc.
Besides, the management pointed at growth drivers in the various business segments and threw light on how it plans to generate free cashflow.
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