Paytm
Paytm parent reports Rs 2,396 cr loss in FY22; revenue grows 65 pc to Rs 5,264 cr
One97 Communications which owns the digital payments brand Paytm posted a consolidated loss of Rs 2,396.4 crore for the fiscal year 2022.
This loss was about 41 percent wider than the previous year’s Rs 1,701 crore.
For the fiscal fourth quarter, its consolidated loss widened to Rs 762.5 crore from Rs 444.4 crore a year earlier.
The Noida headquartered company said Consolidated revenue for the year ended March 31 grew 65 percent to Rs 5,264.3 crore from Rs 3,186.8 crore in FY21.
Its revenue in the reported quarter jumped 89 percent to Rs 1,648.4 crore,
The company said this was driven by growth in gross merchandise value processed from its payment instruments, as well as an increase in loan disbursals.
Total expenses for the financial services provider were Rs 7,601.1 crore in fiscal 2022, up 59 percent from the year before.
The total value of loans disbursed in FY22 was Rs 7,623 crore, according to data released by the company
The total gross merchandise value (GMV) processed by the platform stood at Rs 8.52 lakh crore in FY22, compared with Rs 4 lakh crore the previous year, Paytm said.
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