Despite its strong financial performance, shares of One 97 Communications – the parent firm of Indian fintech company Paytm – declined over 5% after a possible block deal.

A block deal refers to the sale or purchase of a substantial number of shares, typically in a single transaction and often involving institutional investors.

In this case, One 97 Communications reportedly traded 17.8 million shares worth 14.4 billion rupee (US$172.9 million) in total.

The company previously posted narrowed losses, increased revenues, and improved EBITDA for this year.