In recent exchange filings, Paytm announced its partnership with two Companys in order to expand its travel business .

This came after a rumor was spread that Paytm is about to sell its ticketing business to Zomato ,to which they responded that ” Paytm is always looking for ways to increase shareholder value. One idea being considered by them is selling Paytm’s Entertainment business, which is part of their Marketing Services. They also said that “We mentioned in our earnings call that we plan to focus on payment and financial services, as well as digital goods commerce, to help our merchants grow.”

Read the article here – Zomato clarified the news regarding” acquisition of Paytm’s movies, ticketing business”

Paytm’s travel business expansion

Today, Paytm stated that in order to increase their Travel market share, they have partnered with Global Travel Partnerships and Robust Travel Solutions.

Global Travel Partners is a provider of travel products and services. They serve over 450 airlines and 500,000 hotels across 80+ countries, partnering with more than 860 travel agencies worldwide, whereas,

Robust Solutions offers innovative IT solutions, including custom software development, mobile app development, web development, and digital marketing. They focus on delivering high-quality, cost-effective technology solutions.

They started focusing on partnerships & expansion after ” RBI imposed a monetary penalty of Rs. 5.39 crores. on Paytm Payments Bank Limited for non-compliance with certain provisions of the ‘Reserve Bank of India Know Your Customer Directions, 2016’.”

To expand their travel & entertainment business, they also partnered with Samsung.

Read here – Samsung Partners with Paytm to bring travel & entertainment services to Samsung wallet in India

At the time of writing this blog, the shares of Paytm were trading flat at a price of 910/share (-0.30%) from previous day’s close.

Paytm’s Revenue Mix for FY23 are as follows

Payments & Financial Services – 80%
Commerce & Cloud Services – 20%

Also read – Breaking Records: GEM Enviro Management Limited IPO Subscribed 244.09 Times on Final Day! Check GMP here

Disclaimer:
The recommendations made above are by market analysts and are not advised by either the author, nor FinTrend 24. The author, nor the brokerage firm nor FinTrend 24 would be liable for any losses caused as a result of decisions based on this write-up. FinTrend 24 advises users to consult with certified experts before making any investment decision.