Paytm Shares Rise Despite Bigger Q4 Net Loss: SEBI RA Harika Enjamuri Warns Of Bearish Signals

Paytm’s Q4FY25 revenue rose sequentially and operating losses narrowed, but full-year figures revealed deeper operational challenges and cost pressures.

Shares of Paytm (One 97 Communications Ltd) showed some signs of sequential improvement in the fourth-quarter (Q4) of FY25, but the company remains under pressure, according to SEBI-registered Research Analyst Harika Enjamuri. 

Paytm shares rose 8.71% to ₹885.8 at the time of writing. 

Revenue for the quarter rose to ₹1,599 crore from ₹1,492 crore in Q4FY25, while operating loss narrowed to ₹81 crore from ₹208 crore, improving operating profit margin (OPM) to -5% from -14%. 

However, the net loss widened to ₹580 crore from ₹205 crore a year earlier, primarily due to a sharp fall in “other income.”

For the full fiscal year, revenue fell to ₹5,505 crore from ₹7,661 crore in FY24, while operating loss increased to ₹1,481 crore from ₹1,038 crore. 

Net loss narrowed to ₹789 crore from ₹1,476 crore, driven by a substantial rise in other income to ₹1,365 crore from ₹307 crore. 

Despite some operational improvements, Paytm continues to struggle with cost control and profitability, Enjamuri noted.

From a technical perspective, Enjamuri sees a cautious to bearish outlook for the stock. 

The stock tumbled nearly 6% on Tuesday,, closing at ₹814.85, just below its 100-day exponential moving average (EMA) of ₹834.07, suggesting immediate weakness. 

The Relative Strength Index (RSI) at 46.52 is trending downward, indicating diminishing bullish momentum. 

If the selling pressure persists, the stock could fall to the ₹784–₹760 support zone, Enjamuri added.

On the weekly chart, while the stock remains above key EMAs at ₹694.05 and ₹632.86, it is struggling to hold above ₹800. 

Enjamuri suggests that unless Paytm regains the ₹834–₹850 range with strong volume support, it may face further downside pressure toward ₹796 and ₹760. 

A reversal would require a bounce above ₹850, confirmed by bullish volume.

On Stocktwits, sentiment was described as ‘bearish’ amid ‘low’ message volume. 

Shares of Paytm have fallen 10.3% so far this year.

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