Paytm Surprises Everyone With 76% More Revenues! But Losses Increase To Rs 571 Crore In 90 Days

The digital payments and financial services company Paytm released its earnings results for the September ending quarter, posting a rise in net loss in the period compared to the same quarter last year. 

Paytm Surprises Everyone With 76% More Revenues! But Losses Increase To Rs 571 Crore In 90 Days

The company’s share prices have been falling since it got listed on the Indian stock market last year, a debut which was highly valued at the time of launch.

Here’s the complete Q2 FY23 earnings results of the mobile wallets major.

Paytm’s Quarterly Earnings Results in Q2 FY23

  • Consolidated loss in Q2 rose 20.7% on a YoY basis to Rs 571 crore, compared to Rs 472.9 crore in the same quarter last year. 
  • This is due to a surge in Paytm’s expenses related to employee benefits and charges of payment processing. However, on a sequential basis, i.e., compared to the last quarter, the company’s net loss in Q2 narrowed.
  • The company’s revenue jumped a massive 76% YoY in  Q2 to Rs 1,914 crore from Rs 1,086 crore in the year-ago period.
  • Sequentially, this revenue surge was lower than the June quarter’s figure as it jumped 88.5% during that time.
  • Paytm’s net payments margin climbed 15% sequentially to Rs 443 crore in the Sept quarter.
  • The company’s revenue from core business of payments service, i.e., from customers and merchants using the application, along with device subscriptions, surged 55.6% in the quarter under focus to Rs 1,173 crore.
  • Paytm’s average monthly transacting users rose by 39% in Q2 compared to the same period last year.
  • Paytm disbursed loans worth Rs 7,313 crore in Q2, while its fast-growing financial services business rallied almost four times to Rs 349 crore in the quarter.

According to the company, its topline (or revenue) jumped in the Sept quarter due to a rise in merchant subscription revenues, growth in bill payments due to growing MTU and growth in disbursements of loans through our platform.

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