Paytm Paytm Q2 Report: Consolidated loss widens to Rs 593.9 cr, revenue up by 76 percent
IBNS/New Delhi: Paytm's parent firm One97 Communications on Monday reported a widening in consolidated net losses to Rs 539.3 crore in Q2 ended Sept 30.
The enterprise had recorded losses of Rs 481 crore in the same quarter year ago, as per media reports.
On the other hand, the revenue in Q2 2023 rose by 76 percent on the back of robust financial services growth.
The revenue grew to Rs 1,914 crore (Jul-Sept quarter) from Rs 1,086.4 crore in the year-ago period.
Paytm said revenue from its core business segment of payment services to consumers and merchants rose by 55 percent to Rs 549 crore and by 56 percent to Rs 624 crore, respectively.
The digital payments and financial services firm's net payment margin (payment revenue, less processing cost) rose multifold by 15 percent to Rs 443 crore on Y-o-Y basis, as per media reports.
The company's revenue generated from its financial services segment which includes its 'Buy Now Pay Later' option grew by 293 percent to Rs 349 crore, according to media reports.
In Q2 FY 2023, the financial services business made up for 18 percent of the Noida-based firm's total revenue, as per media reports.
Earlier, it added up to eight percent of total revenue in the year-ago period, according to media reports.
The company also announced that in Q2 FY 2023, Paytm recorded a growth in loan disbursement by 224 percent to 9.2 million loans.
The top-line growth was buoyed up by rise in average MTU users, increase in merchant subscription base, and massive surge in loan disbursement, Paytm said in its BSE filing on Monday.
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