Paytm Lost Rs 7 Crore/Day In 90 Days; But Revenues Surge By 101% To Rs 2.9 Lakh Crore

A leading platform for online payments Paytm has recorded a consolidated loss of Rs 645.4 crore for the quarter ended June 2022.

The loss was Rs. 382 crore as compared to the same period in the previous financial year. 

Paytm Reports Consolidated Loss Of Rs. 645.4 Crores

Consolidated revenue for the June FY23 quarter was Rs 1,679.6 crore, representing an 89 percent increase over the Rs 891 crore reported in Q1 FY22.

As per reports, EBITDA loss before employee stock ownership plan (ESOP) costs was Rs 275 crore, and this is a Rs 57 crore improvement over Q1 FY22. Additionally, margin contribution to revenue increased to 43 percent from 35 percent in the previous quarter, Q4 FY22.

The company states, “We are confident that with continued revenue growth, an increasing mix of higher margin businesses such as loan distribution, and better operating leverage, we will reach operating profitability (EBITDA before ESOP cost) by September 2023.”

About the operating performance, Paytm stated that the total merchant gross merchandise value (GMV) processed through its platform for the fiscal quarter ending June FY23 was Rs 2.96 lakh crore, which is a 101 percent increase over the previous year.

In terms of lending, the company reported 8.5 million loan disbursements during the June FY23 quarter, representing a 492 percent year-on-year increase. During the quarter, the value of loans disbursed increased 779 percent year on year to Rs 5,554 crore.

Paytm Loan Disbursements Increased By 486 Percent YoY

Paytm Postpaid loan disbursements increased by 486 percent year on year. The value of Paytm Postpaid loans disbursed increased 656 percent year on year to Rs 3,383 crore from Rs 447 crore.

As per Paytm, “We are also seeing increases in average ticket size due to the scale-up of the personal loans business in particular.”

Consumer engagement was at its peak on Paytm Super-App, confirmed Paytm, with 74.8 million average monthly transacting users (MTU) for the quarter ending June FY23, up 49 percent year on year.

Revenue from payment services to merchants increased by 67 percent year on year to Rs 557 crore. Consumer payments on the Paytm app increased by 73 percent year on year, totaling Rs 519 crore.

Paytm’s revenue from financial services, such as loan distribution and stock broking and investment platform Paytm Money made up for Rs 271 crore.