Paytm shares gain 3% after Q1 results. What are Goldman Sachs, Citi and CLSA saying?

Paytm shares rose 3 percent after Q1 results showed revenue from operations up 28 percent year-on-year at Rs 2,448 crore and profit before tax at Rs 247 crore versus Rs 143 crore a year ago. EBITDA margin expanded to 8.3 percent from 5.8 percent sequentially, beating Citi's estimates by 16 percent. Brokerages were mixed: Citi raised its target to Rs 1,560 (Buy) and Goldman Sachs to Rs 1,500 (Buy), while CLSA retained Underperform with a Rs 1,050 target citing limited upside. The company also shelved its proposed maiden bonus issue to prioritise business expansion and profitability.