Goldman Sachs says Paytm’s offline payments leadership could drive device rental revenue
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Paytm, India's mobile payments and QR code pioneer, is expected to report robust for January-March 2023 earnings, with revenue growth of 49% YoY, and the second consecutive quarter of positive margins, Goldman Sachs said in a recent report. The foreign brokerage has maintained its 'buy' rating and 12-month target price at ₹1,150 apiece, implying a potential rally of 78% from current market price."We see the improving profitability as a meaningful catalyst for the stock, and expect Paytm to be net income profitable in FY25E," analysts at Goldman Sachs noted. It added that Including income on Paytm's ₹80 bn of current cash balance, it expects Mar ‘23 quarter to also be FCF profitable (after accounting for device capex). “We have further raised our FY23E-25E adjusted EBITDA estima...