Business · Updated 27 Oct, 07:41 am IST
VerSe’s valuation plunges nearly 90% to $576 million, Paytm profit rises
Why it matters for readers: It explains why a popular news app owner can see a big drop in implied valuation and how Paytm still posted profit growth.
- Baillie Gifford pegged its 1.3% holding in VerSe at $7.47 million as of August 31, implying a company valuation of $576 million.1
- The implied valuation is nearly 90% below VerSe’s $5 billion peak in 2022 and down 27% for the holding since January.1
- VerSe’s operating revenue fell 40% to Rs 1,162 crore in FY26 and net loss narrowed 28% to Rs 699 crore as expenses fell.1
- Baillie Gifford cited company-specific execution issues and the repricing of comparable listed companies for the markdown.1
- One97 Communications (Paytm) reported a sharp rise in profitability in Q2, with net profit and revenue growth noted in the same dispatch.1
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