News Karnataka
Friday, December 09 2022
Business News

Paytm revenue jumps 89 per cent to Rs 1,680 crore in Q1 FY23

Paytm revenue jumps 89 per cent to Rs 1,680 crore in Q1 FY23
Photo Credit : IANS

New Delhi: Digital financial services giant One97 Communications, that operates the brand Paytm, on Friday reported its Q1FY23 results, where it saw a massive jump in revenue from operations driven by strong monetiSation in payments, device subscriptions and accelerated adoption of high-margin businesses such as lending.

In addition to 89 per cent Y-o-Y revenue growth to Rs 1,680 crore, the company also saw EBITDA (before ESOP) reduce to Rs 275 crore, an improvement of Rs 93 crore Q-o-Q. As a result, the company’s contribution profit grew 197 per cent Y-o-Y to Rs 726 crore, leading to an increase in contribution margin to 43 per cent of revenues in comparison to 35 per cent in Q4FY22.

Paytm’s payments services revenue grew by 69 per cent Y-o-Y (3 per cent Q-o-Q), supported by rapid growth in user engagement, merchant base, use cases on the Paytm super app and subscription revenue from payment devices.

The company’s user engagement, measured by monthly transacting users (MTU), grew 49 per cent Y-o-Y to 74.8 million during the quarter, while the merchant base expanded 30 per cent Y-o-Y to 28.3 million. This has resulted in a 101 per cent Y-o-Y jump in Gross Merchandise Value (GMV), which stood at Rs 2.96 lakh crore during the quarter.

Paytm continues to dominate the offline payments segment, with a total of 3.8 million total devices deployed, of which 2.8 million were added in the past 12 months and 0.9 million during the quarter.

The company’s revenue from financial services grew 393 per cent Y-o-Y during the quarter, led by massive growth in Paytm’s loan distribution business. During the quarter, Paytm disbursed 8.5 million loans, representing a growth of 492 per cent Y-o-Y and 30 per cent Q-o-Q.

The value of the loans disbursed stood at Rs 5,554 crore, marking a growth of 779 per cent Y-o-Y or 56 per cent Q-o-Q. Moreover, the company has now reached an annualised run rate of approximately Rs 24,000 crore of loan disbursements through its platform, with higher demand for Paytm Postpaid (BNPL), personal loans and merchant loans.

Read more:

Paytm Payments Bank issues 7 mn Visa cards, to drive financial inclusion

Paytm’s Madhur Deora gets additional role as CFO of One97 Communications

Traffic violators in B’luru can pay fine through PayTM: Joint Commissioner

Paytm gets further boost as NPCI caps UPI transactions

Paytm payment gateway announces same-day bank settlement

Share this:
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Leave a Reply

Your email address will not be published. Required fields are marked *

Visit 7Jackpots and find the best online casinos in India! Play the most popular casino games for real money!

Find the best odds at 10Cric and ipl betting 2021! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp