Paytm Reported 51.5 Percent Rise in This fall Revenue, Posted Profit for Second Consecutive Quarter

Indian digital funds agency Paytm reported a 51.5 % rise in fourth-quarter income on Friday, aided by a surge in mortgage progress, and posted an working revenue for a second consecutive quarter.

Paytm’s guardian, One 97 Communications, mentioned income rose to Rs. 23.35 billion within the January-March quarter, from Rs. 15.41 billion a 12 months earlier.

Operating revenue, which the corporate defines as core revenue earlier than price of worker stock-owning plans, was Rs. 2.34 billion, together with Rs. 1.82 billion paid for the total 12 months from a authorities scheme to incentivise UPI funds, in contrast with a lack of Rs. 3.68 billion a 12 months earlier.

That was nonetheless greater than the Rs. 310 million within the earlier quarter, which was the SoftBank-backed agency’s first-ever working revenue because it went public in November 2021.

Paytm’s consolidated web loss narrowed to Rs. 1.68 billion, from Rs. 7.61 billion a 12 months earlier. Loans distributed by way of Paytm greater than tripled to Rs. 125.54 billion, powering an 183 % surge in income in its fast-growing monetary providers enterprise.

Revenue at Paytm’s two greatest divisions, from funds providers to customers and to retailers, rose 12 % and 61 %, respectively.

Its contribution margin — a measure of income much less cashbacks and costs comparable to fee processing — rose to 55 %, from 35 % a 12 months earlier.

© Thomson Reuters 2023

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