Digital payments and financial services firm One97 Communications, which operates under the Paytm brand. On Friday reported a widening of consolidated loss to Rs 778.5 crore in the December 2021 quarter.
The company had registered a loss of Rs 535.5 crore in the same period a year ago, according to financial results of the company filed at the BSE.
“The strong growth was driven by increase in merchant payments processed through MDR bearing instruments (Paytm Wallet, Paytm bank account, other banks netbanking, debit and credit cards), disbursements of loans on platform and recovery of commerce business from covid impact,” the fintech company said in a regulatory filing.
Financial Highlights
Consolidated revenue from operations grew by 89 percent to Rs 1,456.1 crore for December 2021 quarter, against Rs 772 crore recorded in the corresponding period of the last fiscal. The sequential increase in topline was 34 percent.
Revenue from payment services to consumers increased by 60 percent YoY to Rs 406 crore. It is driven by growth in transaction volumes of Paytm payment instruments and the introduction of new use-cases.
Revenue from payment services to merchants was up 117 percent YoY to Rs 586 crore driven by MDR-bearing instrument GMV growth. A new large partnership in payment gateway services, and growth in device subscriptions. The growth was also supported by incentives received from partner banks for various payment partnerships.
Average Monthly Transacting Users (MTU), the number of unique users with at least one successful payments transaction in a month, has grown by 37 per cent Y-o-Y to 64.4 mn in Q3 FY 2022.
Its merchant payment GMV has pegged at INR 2.5 lakh crore, a 123% YoY growth. The company earned INR 406 Cr from payments made by consumers on the Paytm app, INR 586 Cr from processing payments in merchant store/app/website, and INR 339 Cr from enabling commerce for merchants.
During the same quarter, its lending business disbursed 4.4 Mn of loans to the tune of INR 2,181 Cr. While its BNPL business disbursed loans of INR 1,190 Cr, a 408% YoY rise. Its instant personal loan disbursed loans worth INR 516 Cr, a 1,925% rise. Merchant cash advanced loans worth INR 474 Cr were disbursed.
The Vijay Shekhar Sharma-led company said that it continues to rapidly expand its customer and merchant base.
It added that the number of consumers on the platform is now over 350 million. The merchant base has expanded to 24.9 million (from 20.0 million a year ago).
“Our customers are showing greater retention and higher engagement (measured by average GMV and transaction per customer),” it added
Stock Movement
On February 4, Paytm’s share price stood at INR 952.90 on both NSE and BSE, when the markets closed. Paytm in November of 2021 went for INR 18,300 Cr IPO with a price of INR 2,080 – INR 2,150.
