Merchant Subscription Revenues Help Paytm Recover from Q2 Loss!


Takeaways from Q2 loss: The net loss has increased to Rs 571 crore, while revenue increased by 76%.

One97 Communications, which operates under the Paytm brand that its consolidated loss for the September 2022 quarter had increased to 571 crores. In the same period last year, the company had a net loss of 472.90 crores. However, its net loss decreased sequentially. In the June quarter, India’s largest fintech player lost 644.4 crores. Paytm consolidated revenue from operations increased 76% year on year (Y-o-Y) to 1,914 crores from 1,086 crores in the second quarter of the fiscal. It is 14% higher than the previous quarter’s revenue of 1,679.60 crores. The revenue was driven by an increase in merchant subscription revenues, an increase in bill payments due to increased MTU, and an increase in loan disbursements through our platform.

The digital payments and fintech company was expected to report a 62.4% YoY increase in revenue and a net loss of 596 crores. Financial services and others revenue was 349 crore, up 293% year on year, and now accounts for 18% of total revenue (versus 8% in Q2FY22), driven by sourcing and collection revenues in the loan distribution business, according to the firm. Its payments services revenue increased by 56% year on year, owing to continued platform expansion across MTU (monthly transaction user), merchant base, subscription merchants, and GMV (gross merchandise value).

GMV was 3.2 lakh crore in Q2FY23, up 63% year on year. GMV increased 8% year on year, driven by growth in the offline merchant base and an increase in GMV from online merchants, primarily e-commerce, due to holiday sales. Total loans disbursed in collaboration with lending partners were 9.2 million during the quarter (up 224% year on year and 8% quarter on quarter), totaling 7,313 crores (up 482% year on year and 32% quarter on year), according to the company. The stock closed 0.25% higher at 652.00, up from the previous day’s close of 649.80.

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