Fintech firm recorded a 32% jump in revenue to Rs 2,519 crore in the July-September quarter (Q2 FY24) while narrowing down its losses to Rs 292 crore.
Its net loss in the year-ago period was Rs 571.5 crore.
“The growth was led by an increase in GMV, merchant subscription revenues, and growth of loans distributed through our platform. There are no UPI incentives booked during the quarter,” Paytm said in an exchange filing.
The company’s operational income or adjusted EBITDA (not accounting for ESOP expense) was up Rs 319 crore YoY to Rs 153 crore from a loss of Rs 166 crore in the corresponding quarter last fiscal.
It reported its first-ever adjusted EBITDA profitability in Q3 FY23.
Paytm revenue from the payments business surged 28% YoY to Rs 1,524 crore. As of September, there were about 92 lakh merchants paying subscriptions for its devices—an increase of 44 lakh YoY and 14 lakh QoQ.
“Net payment margin has gone up 60% YoY to Rs 707 crore due to an increase in payment processing margin and increase in merchant subscription revenues. Payment Processing Margin is at the higher end of 7-9bps range due to increase in GMV of non-UPI instruments, like postpaid, EMI and cards, and improvements in payment processing margin on these non-UPI instruments,” it said.
Meanwhile, its revenue from financial services, including loans, was up 64% YoY to Rs 571 crore. It managed to disburse Rs Rs 16,211 crore worth of loans via its partner banks and NBFC—an increase of 122% YoY.
The number of unique users who took loans through the Paytm platform reached 1.18 crore.
Shares of Paytm ended 1.20% higher on Friday at Rs 980.05 apiece on NSE.
(More details to follow.)
Edited by Kanishk Singh
