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

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Digital financial services giant One97 Communications, which operates the Paytm brand, reported its Q1FY23 results on Friday, driven by strong monetization in payments, device subscriptions and accelerated adoption of high-margin businesses such as lending. Seen a huge jump in revenue from operations. ,

Apart from 89 per cent year-on-year revenue growth of Rs 1,680 crore, the company reduced EBITDA (before ESOP) to Rs 275 crore, an improvement of 93 crore QoQ. As a result, the company’s contribution profit grew by 197 per cent year-on-year to Rs 726 crore, leading to a 43 per cent increase in contribution margin as compared to 35 per cent in Q4FY22.

Paytm’s payment services revenue grew 69 per cent (3 per cent QoQ) on a year-on-year basis, supported by user engagement, rapid growth in the merchant base, use cases on the Paytm Super app and subscription revenue from payment instruments.

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

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

The company’s revenue from financial services grew 393 per cent year-on-year during the quarter, driven by a massive growth in Paytm’s loan delivery business. During the quarter, Paytm disbursed 8.5 million loans, representing an increase of 492 per cent YoY and 30 per cent QoQ.

The value of the loans disbursed was Rs 5,554 crore, showing an increase of 779 per cent YoY or 56 per cent QoQ. Moreover, with the high demand for Paytm Postpaid (BNPL), Personal Loans and Merchant Loans, the company has now reached an annual run rate of loan disbursement of around Rs 24,000 crore through its platform.

-IANS

Paytm’s revenue saw a growth of 89 per cent to Rs 1,680 crore in Q1 FY23, first appeared on BGR India.





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