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Digital payments and financial services company Paytm on Monday posted 76 per cent year-on-year (YoY) growth in revenue to Rs 1,914 crore in Q2FY23, while EBITDA before ESOP cost improved 61 per cent YoY by Rs 259 crore.
On a quarterly basis, Paytm's net losses reduced by 11 per cent. The company has reported robust traction across all its businesses, which has helped it achieve stronger revenue growth, with improvement in EBITDA before ESOP cost (improvement of Rs 200 crore in the last two quarters). It also witnessed a sustained increase in contribution profit of 224 per cent YoY and 16 per cent QoQ to Rs 843 crore. The company's payments business revenue grew 56 per cent YoY and 9 per cent QoQ in Q2FY23 with continued platform expansion, higher user engagement, growing merchant base and devices-led leadership in offline payments. Revenue from payment services to consumers stood at Rs 549 crore, up by 55 per cent YoY, while payment services to merchants was Rs 624 crore, up by 56 per cent YoY. This was achieved without any UPI incentive. The company said its net payment margin (calculated as payments revenues plus other operating revenues, less payment processing cost) stood at Rs 443 crore, up 428 per cent YoY. Its commerce and cloud services reported a revenue of Rs 377 crore - a 55 per cent YoY growth. Paytm's rapid expansion in loan distribution has become the main catalyst for its financial services revenue, which now accounts for 18 per cent of the company's total revenue, compared to 8 per cent in Q2FY22. Total revenue from financial services business stood at Rs 349 crore, up 293 per cent YoY and 29 per cent QoQ. The company further added that it sees "a long growth runway ahead" in the loan distribution business (Paytm postpaid, personal loans, merchant loans). In Q2FY23, Paytm postpaid disbursements stood at Rs 4,050 crore, (449 per cent YoY and 20 per cent QoQ growth), while personal loans disbursements amounted to Rs 2,055 crore (736 per cent YoY and 53 per cent QoQ growth). Meanwhile, merchant loan disbursements stood at Rs 1,208 crore (342 per cent YoY and 46 per cent QoQ) due to growth in devices business. --IANS san/arm ( 385 Words) 2022-11-07-22:08:01 (IANS)
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