Loss widens to Rs 473 crore even as revenue climbs 49.6% to Rs 1,086 crore


Its total consolidated income rose 49.6 percent to Rs 1,086.4 crore in the reported quarter, from Rs 663.9 crore in the corresponding period of FY’21.

Representative image. News18

New Delhi: The parent company of financial technology company Paytm, One 97 Communications, on Saturday reported an increase in consolidated loss to around Rs 473 crore in the second quarter ended September 2021, mainly due to an increase in payment processing fees. .

The company recorded a loss of Rs 436.7 crore in the same quarter a year ago, according to a swap document.

Its total consolidated income rose 49.6 percent to Rs 1,086.4 crore in the reported quarter, from Rs 663.9 crore in the corresponding period of FY’21.

“We have improved our spending, with continued and increased investments in technology and the expansion of the merchant base. Obviously, the monetization and focus on non-UPI activities is reflected in our results and our costs. We are committed to innovating and continuing to invest in India’s payment and financial services inclusion, ”said a spokesperson for Paytm.

Payment processing fee payment fees increased 36% to Rs 670 crore in the current quarter compared to Rs 492.4 crore in the same period of 2020-2021. Spending on employee benefits rose 35% to Rs 386.5 crore from Rs 286.2 crore while company spending on software, cloud and data center rose 56.5% to Rs 112.9 crore versus Rs 72.1 crore during the reporting period.

“Our goal remains the continued expansion of customers and merchants and strengthening our business capabilities to take advantage of the opportunities presented by the Indian internet ecosystem and the rapid adoption of financial services,” the spokesperson said.

Paytm’s gross value of goods (GMV) in the second quarter more than doubled to Rs 1,95,600 crore from Rs 94,700 crore in the corresponding quarter of 2020-2021.

The company’s average monthly transaction (MTU) number in the current quarter increased 33% year-on-year to 5.74 million, Paytm said in a statement.

Payments and financial services revenue grew 69% year-on-year to Rs.842.6 crore, while commerce and cloud services revenue grew 47% year-on-year to reach 2,43.8 crore rupee crores, the statement said.

The company said the number of loan disbursements increased 714% year-on-year to over 28 lakh in the current quarter.

“The lending business continued to show strong growth due to the rapid scale-up of all of the Company’s lending products, including postpaid (Buy-Now-Pay-Later) products, consumer loans and loans to traders.

The company’s partner financial institutions disbursed approximately 1.3 million loans in October 2021, an increase of 472% in the number of loans disbursed year-over-year and totaling a total disbursement of Rs 627 crore, ”the company said.

In terms of value, disbursement increased by 418% in terms of value, the statement said.

Paytm said its trader base increased to 2.3 crore in the current quarter, from 1.85 crore in the second quarter of fiscal 2021. The company’s shares closed at Rs 1,781.15 apiece, down 0.86% from BSE on Friday.


Comments are closed.