paytm: Paytm Q3 results: Revenue up 89% to Rs 1,456 crore, losses down – Times of India

One97 Communications Limited, which owns the brand Paytm, has announced its Q3 FY2022 results. During the October-December quarter, the company saw its revenues jump by 89% y-o-y to Rs 1,456 crore, EBITDA losses (before ESOP expense) came down to Rs 393 crore from Rs 488 crore during the same quarter in the previous year. This revenue increase was led by high monetization and growth in merchant payments through MDR bearing instruments, new device subscriptions and loan disbursements.
The company also saw its average Monthly Transacting Users at 64.4 million, and a GMV of Rs 2.5 lakh crore.
The company’s revenue from payment services to consumers was up by 60% at ₹406 crore, while the revenue from payment services to merchants was up by 117% to Rs 586 crore. The cloud and commerce services also saw its revenue jump by 64% to Rs 339 crore.
A major part of the company’s Q3 results was seen in its financial services play ramping up. The company disbursed 4.4 million loans (401% y-o-y growth) aggregating to a total value of Rs 2,181 crore (366% y-o-y growth).
The company’s credit business spread across three main verticals — Paytm Postpaid (Buy Now, Pay Later), merchant loans and personal loans, saw scale up.
Paytm spokesperson said, “Our business is to offer payments for consumers and merchants, and cross-sell high-margin financial services and commerce to them. We acquire customers on our consumer app for bill payments, money transfer and offline merchant payments, and offer them Paytm Payment Instruments (Paytm Wallet, Paytm Payments Bank account, and Paytm Postpaid) and Paytm UPI. We acquire merchants for QR payments, EDC and Soundbox devices and Payment Gateway (for online merchants). We use insights from our platform to offer various financial products to our customers and merchants. We also provide high-margin Commerce and Cloud Services to our merchants to help them enable commerce using the Paytm App.”