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Reports 89% jump to Rs 1,680 crore in Q1 FY2023

Digital financial services giant One97 Communications, which operates the Paytm brand, released its FY23 first-quarter results on Friday, where it recorded a massive increase in revenue from its operations thanks to strong monetization of payments, device subscriptions and accelerated adoption of high-margin activities such as lending. . Also Read – How to Recharge Your BSNL Number Online: A Step-by-Step Guide

In addition to revenue growth of 89% YoY to Rs 1,680 crore, the company also saw EBITDA (before ESOP) shrink to Rs 275 crore, an improvement of Rs 93 crore QoQ. As a result, the company’s contribution profit increased by 197% year-on-year to Rs 726 crore, resulting in an increase in contribution margin to 43% of revenue from 35% in Q4FY22. Also Read – Paytm Mall Data Breach: Company’s Claim Report is False and Unsubstantiated

Paytm’s payment services revenue grew 69% year-over-year (3% quarter-on-quarter), supported by rapid growth in user engagement, merchant base, super Paytm app and payment device subscription revenue.

The company’s user engagement, measured by monthly transacting users (MTU), grew 49% year-over-year to 74.8 million in the quarter, while the merchant base grew increased by 30% year-on-year to 28.3 million. This led to a 101% year-on-year increase in Gross Merchandise Value (GMV), which stood at Rs 2.96 lakh crore in the quarter.

Paytm continues to dominate the offline payments segment, with a total of 3.8 million devices deployed, of which 2.8 million were added in the past 12 months and 0.9 million in the quarter.

The company’s financial services revenue grew 393% year-on-year in the quarter, driven by massive growth in Paytm’s loan distribution business. During the quarter, Paytm disbursed 8.5 million loans, representing growth of 492% YoY and 30% QoQ.

The value of loans disbursed stood at Rs 5,554 crore, marking a growth of 779% YoY or 56% QoQ. Additionally, the company has now achieved an annualized run rate of around Rs 24,000 crore in loan disbursements through its platform, with higher demand for Paytm Postpaid (BNPL), personal loans and merchant loans. .