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Paytm Reported 51.5 Percent Rise in Q4 Revenue, Posted Profit for Second Consecutive Quarter

Paytm Reported 51.5 Percent Rise in Q4 Revenue, Posted Profit for Second Consecutive Quarter

Paytm's consolidated net loss narrowed to Rs. 1.68 billion, from Rs. 7.61 billion a year earlier.

By Reuters | Updated: 5 May 2023 22:50 IST

Paytm Reported 51.5 Percent Rise in Q4 Revenue, Posted Profit for Second Consecutive Quarter

Photo Credit: Reuters

Paytm's parent company said revenue rose to Rs. 23.35 billion in the January-March quarter

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Highlights

Paytm's contribution margin rose to 55 percent YoY
Revenue at Paytm's two biggest divisions rose 12 percent and 61 percent
Loans distributed through Paytm more than tripled

Indian digital payments firm Paytm reported a 51.5 percent rise in fourth-quarter revenue on Friday, aided by a surge in loan growth, and posted an operating profit for a second consecutive quarter.

Paytm's parent, One 97 Communications, said revenue rose to Rs. 23.35 billion in the January-March quarter, from Rs. 15.41 billion a year earlier.

Operating profit, which the company defines as core profit before cost of employee stock-owning plans, was Rs. 2.34 billion, including Rs. 1.82 billion paid for the full year from a government scheme to incentivise UPI payments, compared with a loss of Rs. 3.68 billion a year earlier.

That was still higher than the Rs. 310 million in the previous quarter, which was the SoftBank-backed firm's first-ever operating profit since it went public in November 2021.

Paytm's consolidated net loss narrowed to Rs. 1.68 billion, from Rs. 7.61 billion a year earlier. Loans distributed through Paytm more than tripled to Rs. 125.54 billion, powering an 183 percent surge in revenue in its fast-growing financial services business.

Revenue at Paytm's two biggest divisions, from payments services to consumers and to merchants, rose 12 percent and 61 percent, respectively.

Its contribution margin — a measure of revenue less cashbacks and charges such as payment processing — rose to 55 percent, from 35 percent a year earlier.

© Thomson Reuters 2023

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