Paytm Q1 Results: Fintech Giant's Net Loss Narrows to INR 358 Cr, Revenue Jumps 39% With loans disbursed through the platform totaling INR 14,845 crore in the first quarter, up 167% year-over-year, Paytm's lending business continued to expand.

By Sujata Sangwan

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Vijay Shekhar Sharma Twitter handle

One97 Communications, the parent company of Paytm, announced on Friday that its losses had shrunk to INR 358.4 crore. In the same period a year prior, the company reported a loss of INR 645.4 crore. When compared to the INR 168 crore recorded in the March quarter before, the loss has increased.

From INR 1,679.6 crore in the quarter ending in June 2022, the company's operating revenue climbed by 39.4% to INR 2,341.6 crore during the quarter under report.

According to the company, in the April–June quarter of FY 2023–24, merchant payments volume (MPV) increased 37% year-over-year to INR 4.05 lakh crore.

The statement said that "Paytm's EBITDA before ESOP margin stood at 4% on the account of consistently improving profitability due to strong revenue growth, increasing contribution margin, and operating leverage."

Paytm reported that its indirect cost increased this quarter as anticipated, up 22% YoY, as a result of an increase in marketing expenses associated with the IPL, the effect of appraisals, and the expansion of the sales and technical teams.

With loans given through the platform totaling INR 14,845 crore in the first quarter, up 167% year-over-year, the lending business continued to expand.

Due to an increase in the gross merchandise value (GMV) of its non-UPI instruments, such as EMI and Cards, as well as a lower interchange cost for its wallet following NPCI and Postpaid's interoperability circular, Paytm's net payment processing margin entered the top range of 5-8 basis points.

Paytm Chairman, Managing Director, and CEO Vijay Shekhar Sharma made an update on the RBI's prohibition on Paytm Payments Bank onboarding of new users, stating that the bank has submitted a compliance report to the banking regulator, which is currently being reviewed.

The RBI had instructed the Paytm Payments Bank (PPBL) to halt onboarding new users as of March 1, 2022, during the fiscal year (FY) 2022.

Sujata is an engineering graduate and has done her Post Graduation in Human Resource Management. She has a deep interest in startups, venture capitalists & technology. 

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