Again a misstatement… PayTM ‘does’ earns from these nukads AND grocery stores in terms of merchant loans, soundbox fees, etc.
Also, the broader perspective one should look at is the multiplier effect from 30 crore+ users… It’s a household name now… PayTM can easily leverage on it.
On the profits part, it’s on its way towards it… The management was expecting profits by FY 25… Because of the RBI notification on PPBL, let’s assume a year’s more delay in profitability…
Market was cynical on loss making Zomato too at Rs. 40; look where it is now once the profits started pouring in 6 months back…
Disc: Holding both PayTM & sitting at 2x profits in Zomato
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