Net profit of One 97 Communications reported to Rs 928.30 crore in the quarter ended September 2024 as against net loss of Rs 290.50 crore during the previous quarter ended September 2023. Sales declined 34.11% to Rs 1659.50 crore in the quarter ended September 2024 as against Rs 2518.60 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1659.502518.60 -34 OPM %-24.30-9.17 - PBDT-227.90-93.20 -145 PBT-406.50-273.30 -49 NP928.30-290.50 LP Powered by Capital Market - Live News

One97 Communications will hold a meeting of the Board of Directors of the Company on 22 October 2024.Powered by Capital Market - Live News

One 97 Communications announced the deployment of 800 Paytm EDC devices (card machines) across 42 Krishi Mandis in Madhya Pradesh. This significant initiative empowers the traders and farmers at the Mandis by facilitating smoother and more secure transactions, thus enhancing the financial inclusivity and operational efficiency within the local agricultural community. A Krishi Mandi is a marketplace, part of a state`s Agricultural Marketing Board, for facilitating trade of agricultural produce from farmers. For the first time, the Krishi Mandi app in Madhya Pradesh has been integrated with Paytm EDC devices (card machines), marking a pivotal step in the digital transformation of agricultural sales. With the introduction of these devices, the time required to process agricultural sales, which previously spanned across days, has now been dramatically reduced to a few hours.The devices serve multiple functions, enabling payments as well as creation of printed gate receipts and purchase orders. This comprehensive approach ensures that farmers and traders maintain both digital and physical records of their transactions, increasing transparency, trust and smoother transactions.Paytm plans to continue expanding this service, with a goal to deploy an additional 1,300 card machines, across various Krishi Mandis over the next two years. This initiative reflects Paytm`s commitment to addressing real-world challenges and enhancing digital empowerment in India`s agricultural communities. Powered by Capital Market - Live News

One 97 Communications (OCL), which owns the brand Paytm, announced that it has entered into definitive agreements for the sale of its entertainment ticketing business that includes movies, sports and events (live performances) ticketing to Zomato. This deal, valued at Rs 2,048 crore on a cash-free, debt-free basis, stands as a testament to the value Paytm has created through its entertainment ticketing business, bringing choice and convenience to millions of Indians with its services and scale. As part of this agreement, OCL will transfer its entertainment ticketing business to Zomato by 1) Transfer of OCL`s entertainment ticketing business to it`s 100% subsidiaries, Orbgen Technologies (OTPL) and Wasteland Entertainment (WEPL), and 2) Selling 100% stake in its subsidiaries OTPL and WEPL, which operate the TicketNew and Insider platforms, respectively to Zomato. The transfer will also include ~280 existing employees from the entertainment ticketing business.Paytm`s move to sell its entertainment ticketing business underscores its core focus on payments and financial services distribution. In recent quarters, the company has also expanded its offerings in insurance, equity broking, and wealth distribution, with significant opportunity to cross-sell these services and grow its market presence as a leading financial services distribution player.During a transition period (up to 12 months), the movie and event tickets will continue to be available on the Paytm app, as well as on the TicketNew and Insider platforms, ensuring a smooth and uninterrupted experience for users and merchant partners. Powered by Capital Market - Live News

One97 Communications announced that the Annual General Meeting (AGM) of the company will be held on 12 September 2024.Powered by Capital Market - Live News