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Paytm’s parent company, One97 Communications, has issued 2,44,801 shares as part of employee stock option schemes (ESOP).

The fintech company’s board, in its meeting held on December 5, approved the allotment of 2,44,801 fully paid-up equity shares with a face value of Rs 1 each to eligible employees upon the exercise of vested stock options, the company said in an exchange filing.

Of the total allotment, 2,42,795 shares were issued under Employee Stock Option Scheme 2019, and 2,006 shares under Employee Stock Option Scheme 2008.

Following the allotment, the company’s issued, subscribed, and paid-up equity share capital has increased to Rs 637,382,630 from Rs 637,137,829.

In recent months, the Vijay Shekhar Sharma-led company has approved at least two additional rounds of ESOPs. These allotments come amid Paytm’s return to profitability in Q2 FY24, boosted by the sale of its ticketing business to Zomato.

The fintech firm reported a profit of Rs 930 crore in Q2 FY24, compared to a loss of Rs 840.1 crore in the previous quarter. Its revenue from operations grew 10.51% to Rs 1,659.5 crore in Q2 FY24, from Rs 1,501.6 crore in Q1 FY24.

Paytm’s shares have surged in recent months, rising over 23% in the last month alone. The stock opened at Rs 959.60 on Friday.