One97 Communication-owned Paytm Q2 Results Paytm’s consolidated revenue from operations increased 76% year on year (Y-o-Y) to 1,914 crore in the second quarter of the fiscal year from 1,086 crore.
One97 Communications, which operates under the Paytm brand, announced on Monday that its consolidated loss for the September 2022 quarter had increased to 571 crore. In the same period last year, the company had a net loss of 472.90 crore.
However, its net loss decreased sequentially. In the June quarter, India’s largest fintech player lost 644.4 crore.
Paytm’s consolidated revenue from operations increased 76% year on year (Y-o-Y) to 1,914 crore from 1,086 crore in the second quarter of the fiscal. It is 14% higher than the previous quarter’s revenue of 1,679.60 crore.
According to the company, the revenue was driven by an increase in merchant subscription revenues, an increase in bill payments due to increased MTU, and an increase in loan disbursements through our platform.
The digital payments and financial services company was expected to report a 62.4% YoY increase in revenue and a net loss of 596 crore.
Financial services and others revenue was 349 crore, up 293% year on year, and now accounts for 18% of total revenue (versus 8% in Q2FY22), driven by sourcing and collection revenues in the loan distribution business, according to the firm.
Its payments services revenue increased by 56% year on year, owing to continued platform expansion across MTU (monthly transaction user), merchant base, subscription merchants, and GMV (gross merchandise value).
In Q2FY23, the GMV came at at ₹3.2 lakh crore, up by 63% YoY. On a QoQ basis, GMV grew 8%, driven by growth in the offline merchant base and an increase in GMV from online merchants primarily e-commerce due to festive sales.
Total loans disbursed in collaboration with lending partners were 9.2 million during the quarter (up 224% year on year and 8% quarter on quarter), totaling 7,313 crore (up 482% year on year and 32% quarter on year), according to the company.
The stock closed 0.25% higher at 652.00, up from the previous day’s close of 649.80.
