Paytm reported a widened loss of ₹761 crore in the three months to March, compared with ₹444 crore loss a year ago.
On Friday, Paytm's scrip rose 3.30% to close at ₹572 on NSE.
Paytm said it is on track to achieve break-even by quarter ending September 2023, which it hopes will be driven by continued revenue growth, along with moderation in costs as operating leverage kicks in.
The digital payment company's revenue grew 89% to ₹1,541 cr from ₹815 crore in the fourth quarter, driven by healthy growth in GMV (gross merchandise value) from MDR bearing instruments, 2.1 million new devices, and huge growth in value of loans disbursed.
The company's average MTU (number of unique users with at least one successful payments transaction in a month), has grown 41% year-on-year to 70.9 million in the reporting quarter.
The contribution profit --- as defined by revenue from operations less direct costs --- improved to 35% of revenue in the quarter from 21.4% a year ago.
Paytm said all lending offerings have scaled up significantly over the last year, seeing increased adoption by users and number of loans stood at 6.5 million, rising 374% over last year.
Meanwhile, the value of loans disbursed rose to ₹3,553 crore, a growth of 417% year-on-year and 63% quarter-on-quarter.
The country’s biggest IPO until LIC, Paytm, is S&P BSE IPO index worst performer, down 75% since its highly anticipated float in November.
Paytm Q4 Results: Loss Widens To ₹761 Cr; Revenue Up 89% | Mint - Mint
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