Tech

Paytm Monthly Trading Users Up 49% YoY, Q1 Net Loss Expands to Rs 644.4


Digital financial services company One97 Communications, which operates under the Paytm brand, on Friday said its consolidated loss increased to Rs. 644.4 crore in the first quarter ended June 30. The company recorded a net loss of Rs. 380.2 crore a year ago.

Paytm said its contribution profit, excluding taxes and marketing costs but including promotional offers, has more than tripled to Rs. 726 crore in June 2022 quarter from Rs. 245 crore for a period of one year ago.

Consolidated revenue from operations increased 89% to Rs. 1,680 crore for the quarter reported from Rs. 891 crore in June 2021 quarter.

“Earlier this year, we shared that we would reach profitability from our business in September 2023, thanks to better monetization, as well as moderate cost growth. First quarter results. The first quarter of fiscal 2023 shows that our strategy is in line, with an improved focus on unit economics, better cost management, and a growing mix of high-margin businesses. higher margins (like financial services and commerce) have steered us on the path to profitability,” said Paytm.

Total merchandise value more than doubled to Rs. 3 lakh crore in the June quarter 2022 from Rs. 1.5 lakh crore a year ago.

Paytm says its monthly transactional users grew 49% year-on-year to 7.48 crore.

During the reported quarter, loans disbursed via Paytm increased more than 8 times to Rs. 5,554 crore from Rs. 632 crore in June 2021 quarter.

“Disbursements in our loan distribution business are growing annually at a rate of around Rs 24,000. reported.




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