Paytm revenue increases by 76%, loss widens to Rs 594 crore in Q2

New Delhi: Digital financial services firm One97 Communications, which owns Paytm brand, on Monday reported widening of consolidated loss to Rs 593.9 crore in the second quarter ended September 30, 2022

The company had posted a loss of Rs 481 crore in the same period a year ago, Paytm said in its regulatory filing. (Also read: Musk tells Twitter followers to vote for Republicans in US midterms)

Paytm's consolidated revenue from operations increased by about 76 per cent to Rs 1,914 crore during the reported quarter from Rs 1,086.4 crore in the September 2021 quarter. (Also read: Is today a bank holiday? Bank branches will be closed in THESE CITIES today, check full list )

Paytm said that its revenue from payment services to consumers increased by 55 per cent to Rs 549 crore on year-on-year (YoY) basis while payment services to merchants went up by 56 per cent to Rs 624 crore YoY.

"This was achieved without any UPI incentive during the quarter," the company said.

The company's net payment margin (calculated as payments revenues plus other operating revenues, less payment processing cost) increased multi-fold to Rs 443 crore on year-on-year basis on account of improved monetisation and continued focus on reduction in payment processing charges.

The company's revenue from the financial services business was up 293 per cent to Rs 349 crore on YoY basis and now accounts for 18 per cent of total revenue, compared to 8 per cent in September 2021 quarter.

"In the second quarter of FY23, Paytm disbursed 9.2 million loans, up 224 per cent YoY amounting to Rs 7,313 crore," the company said.

The average monthly transacting users (MTU) grew 39 per cent YoY to 7.97 crore while the merchant base has increased to 2.95 crore, the company said.