Paytm ’s revenue from operations went up 7.5% sequentially to ₹2,518 crore.- Until September end, 1.18 crore unique users have taken a loan through its platform.
- In the second quarter, it distributed loans amounting to ₹16,211 crore via its platform.
Its revenue from operations went up 7.5% sequentially to ₹2518.6 crore as compared to ₹2,341 crore in the first quarter. On a year on year basis, its revenues went up 32%.
“In this financial year, online sales for the festive season will be captured in Q3, whereas in the previous financial year it was largely in Q2. Revenue growth was led by increase in GMV, merchant subscription revenues, and growth of loans distributed through our platform,” Paytm said.
Paytm said that its payments business revenue went up by 28% YoY to ₹1,524 crore. This business, it says, helps them onboard customers and enables distribution of credit products. Until September 2023, 1.18 crore unique users have taken a loan through its platform.
In Q2 FY 2024, across its product offerings — Paytm Postpaid, Personal Loans, and Merchant Loans – it distributed loans amounting to ₹16,211 crore, it said in its earnings update.
Patym lending partners have distributed loans to 1.18 crore unique Paytm consumers and merchants. In the second quarter, Paytm’s gross merchandise value (GMV) grew 41% YoY to ₹4.5 lakh crore.
“Despite no UPI incentives received during the quarter, payment processing margin is at the higher end of 7-9 basis point range due to an increase in GMV of non-UPI instruments like postpaid, EMI and cards, and improvements in payment processing margin on these non-UPI instruments,” the company said.
Merchant paying subscription for devices has reached 92 lakh by the end of the quarter – an increase of 44 lakh YoY and 14 lakh QoQ.
“We have been focused on high quality users, and increasing engagement. With 33% YoY growth in Paytm App GMV and 32% YoY growth in Paytm App transaction volume, consumer engagement on the Paytm app continues to remain strong,” it said in its press release.
Paytm’s contribution profit was up 69% YoY to ₹1,426 crore and its margin of 57%, expanded by 13 percent points in the same period. Its earnings before interest tax and amortization (EBIDTA) before employee stock options was up by ₹319 crore to ₹153 crore.