Latest news with #FirstGames
Time of India
26-05-2025
- Business
- Time of India
Paytm shares in focus after Supreme Court stays Rs 5,712-crore GST notice against First Games
Paytm shares will be in focus after the Supreme Court stayed proceedings related to a Rs 5,712-crore Goods and Services Tax (GST) notice issued to Paytm-owned First Games by the Directorate General of GST Intelligence (DGGI), New Delhi. The update was shared in a regulatory filing by One97 Communications , the parent company of Paytm and its gaming arm, First Games. The notice, issued in April 2025, had prompted First Games to file a writ petition in the apex court. 'We hereby inform you that First Games has informed us on May 24, 2025 at 10:44 am (IST) that in the writ petition …filed by First Games challenging the said SCN, the Hon'ble Supreme Court of India has on May 23, 2025 stayed the proceedings of the SCN,' One97 Communications said in the filing. The case revolves around the classification and taxation of real money gaming platforms under the GST regime—an issue affecting several companies in the online gaming sector. One97 Communications clarified that the tax matter is not limited to First Games but is part of a broader legal debate involving multiple gaming platforms facing large tax demands under revised GST norms. The Supreme Court is already hearing similar petitions. The interim stay offers relief to First Games and may indicate the court's willingness to take a deeper look at how real money gaming is being taxed in India. Paytm Q4 earnings Paytm operator One97 Communications reported a consolidated net loss of Rs 540 crore in Q4FY25, marginally lower than the Rs 550 crore loss in the year-ago period. Revenue from operations for the March quarter stood at Rs 1,912 crore, down 16% year-on-year from Rs 2,267 crore in Q4FY24. Sequentially, the net loss widened from Rs 208 crore in Q3FY25, though revenue improved nearly 5% from Rs 1,828 crore in the previous quarter. Paytm share price target According to Trendlyne, the average target price for Paytm stands at Rs 933, implying an upside of nearly 11% from current levels. Among the 17 analysts covering the stock, the consensus rating is 'Hold'. Paytm shares performance Paytm shares closed at Rs 412.1 on Friday, up 1.8% on the BSE, while the Sensex gained 0.95%. The stock is down 14% year-to-date but has surged 137% over the past 12 months. Its current market capitalisation is Rs 53,855 crore. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
26-05-2025
- Business
- Economic Times
Paytm shares in focus after Supreme Court stays Rs 5,712-crore GST notice against First Games
Paytm shares will be in focus after the Supreme Court stayed proceedings related to a Rs 5,712-crore Goods and Services Tax (GST) notice issued to Paytm-owned First Games by the Directorate General of GST Intelligence (DGGI), New Delhi. ADVERTISEMENT The update was shared in a regulatory filing by One97 Communications, the parent company of Paytm and its gaming arm, First Games. The notice, issued in April 2025, had prompted First Games to file a writ petition in the apex court. 'We hereby inform you that First Games has informed us on May 24, 2025 at 10:44 am (IST) that in the writ petition …filed by First Games challenging the said SCN, the Hon'ble Supreme Court of India has on May 23, 2025 stayed the proceedings of the SCN,' One97 Communications said in the filing. The case revolves around the classification and taxation of real money gaming platforms under the GST regime—an issue affecting several companies in the online gaming sector. Also Read: High conviction picks! ICICI Bank, HAL among 10 large-cap stock ideas from PL Capital One97 Communications clarified that the tax matter is not limited to First Games but is part of a broader legal debate involving multiple gaming platforms facing large tax demands under revised GST norms. The Supreme Court is already hearing similar petitions. ADVERTISEMENT The interim stay offers relief to First Games and may indicate the court's willingness to take a deeper look at how real money gaming is being taxed in Read: Stocks in news: Firstcry, Nazara, Swiggy, JSW Steel, NTPC ADVERTISEMENT Paytm operator One97 Communications reported a consolidated net loss of Rs 540 crore in Q4FY25, marginally lower than the Rs 550 crore loss in the year-ago from operations for the March quarter stood at Rs 1,912 crore, down 16% year-on-year from Rs 2,267 crore in Q4FY24. ADVERTISEMENT Sequentially, the net loss widened from Rs 208 crore in Q3FY25, though revenue improved nearly 5% from Rs 1,828 crore in the previous to Trendlyne, the average target price for Paytm stands at Rs 933, implying an upside of nearly 11% from current levels. Among the 17 analysts covering the stock, the consensus rating is 'Hold'. ADVERTISEMENT Paytm shares closed at Rs 412.1 on Friday, up 1.8% on the BSE, while the Sensex gained 0.95%. The stock is down 14% year-to-date but has surged 137% over the past 12 months. Its current market capitalisation is Rs 53,855 crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
26-05-2025
- Business
- Time of India
Paytm shares in focus after Supreme Court stays Rs 5,712-crore GST notice against First Games
Paytm shares will be in focus after the Supreme Court stayed proceedings related to a Rs 5,712-crore Goods and Services Tax (GST) notice issued to Paytm-owned First Games by the Directorate General of GST Intelligence (DGGI), New Delhi. The update was shared in a regulatory filing by One97 Communications , the parent company of Paytm and its gaming arm, First Games. The notice, issued in April 2025, had prompted First Games to file a writ petition in the apex court. 'We hereby inform you that First Games has informed us on May 24, 2025 at 10:44 am (IST) that in the writ petition …filed by First Games challenging the said SCN, the Hon'ble Supreme Court of India has on May 23, 2025 stayed the proceedings of the SCN,' One97 Communications said in the filing. The case revolves around the classification and taxation of real money gaming platforms under the GST regime—an issue affecting several companies in the online gaming sector. Also Read: High conviction picks! ICICI Bank, HAL among 10 large-cap stock ideas from PL Capital Live Events One97 Communications clarified that the tax matter is not limited to First Games but is part of a broader legal debate involving multiple gaming platforms facing large tax demands under revised GST norms. The Supreme Court is already hearing similar petitions. The interim stay offers relief to First Games and may indicate the court's willingness to take a deeper look at how real money gaming is being taxed in India. Also Read: Stocks in news: Firstcry, Nazara, Swiggy, JSW Steel, NTPC Paytm Q4 earnings Paytm operator One97 Communications reported a consolidated net loss of Rs 540 crore in Q4FY25, marginally lower than the Rs 550 crore loss in the year-ago period. Revenue from operations for the March quarter stood at Rs 1,912 crore, down 16% year-on-year from Rs 2,267 crore in Q4FY24. Sequentially, the net loss widened from Rs 208 crore in Q3FY25, though revenue improved nearly 5% from Rs 1,828 crore in the previous quarter. Paytm share price target According to Trendlyne, the average target price for Paytm stands at Rs 933, implying an upside of nearly 11% from current levels. Among the 17 analysts covering the stock, the consensus rating is 'Hold'. Paytm shares performance Paytm shares closed at Rs 412.1 on Friday, up 1.8% on the BSE, while the Sensex gained 0.95%. The stock is down 14% year-to-date but has surged 137% over the past 12 months. Its current market capitalisation is Rs 53,855 crore. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
24-05-2025
- Business
- Mint
SC stays ₹5,712-crore GST notice sent to Paytm-owned gaming platform First Games
The Supreme Court has granted a stay on a ₹ 5,712-crore GST notice sent to fintech firm One97 Communications-owned real money gaming platform First Games, a regulatory filing said on Saturday. The Directorate General of GST Intelligence, New Delhi had issued a show cause notice (SCN) to First Games in April. "We hereby inform you that First Games has informed us on May 24, 2025 at 10:44 am (IST) that in the writ petition ...filed by First Games challenging the said SCN, the Hon'ble Supreme Court of India has on May 23, 2025 stayed the proceedings of the SCN," the regulatory filing said.
Deccan Herald
24-05-2025
- Sport
- Deccan Herald
Paytm says Supreme Court stays Rs 5,712 crore GST notice sent to First Games
The Directorate General of GST Intelligence, New Delhi had issued a show cause notice (SCN) to First Games in April.
