Paytm Net Loss Widens To Rs 473 Crore In July-September Quarter, Revenue Up 64%

Paytm Net Loss Widens To Rs 473 Crore In September Quarter, Revenue Up 64%

Paytm Q2 Results: Net loss widened to Rs 473 crore in September quarter

Paytm Q2 Results: One97 Communications Limited - the operator of digital funds platform Paytm, introduced its July-September quarter outcomes for the monetary yr 2021-22, reporting a web lack of Rs 473 crore on a consolidated foundation, in comparison with a lack of Rs 437crore within the corresponding interval final yr.

Paytm Q2 Results: All You Need To Know

Paytm's income from operations within the second quarter of the present fiscal stood at Rs 1,086 crore, in comparison with Rs 664 crore within the year-ago interval, marking a progress of 64 per cent year-on-year.
The bounce in income was pushed by a 52 per cent progress in non-UPI gross merchandise worth and over a three-fold rise in progress of economic companies and different income, based on a regulatory submitting by Paytm to the inventory exchanges right now
The firm's income from cost companies to retailers rose 64 per cent to Rs 400 crore, pushed by non-UPI cost quantity in cost gateway and progress in units. Its income from cost companies to clients was up 54 per cent to Rs 353 crore, pushed by a rise in non-UPI cost utilization on the shopper platform.
“The progress of non-UPI GMV has pushed continued funds income progress and our UPI-led cost quantity progress is translating to a big ramp-up of our monetary companies providing...we are on our option to pre-COVID volumes for commerce and cloud companies,'' mentioned Paytm in its assertion right now.
The firm's EBITDA (earnings earlier than curiosity, taxes, depreciation, and amortization) loss stood at Rs 452.4 crore within the September quarter, up from a lack of Rs 445.6 crore within the year-ago interval.
Paytm's contribution to revenue was up as a lot as 592 p.c year-on-year to Rs 260 crore as a consequence of monetisation of a giant distribution base via the excessive margin choices resembling lending, ads, and commerce choices.
On its market debut, Paytm's shares slumped as a lot as 28 per cent from its situation value, to hit an intraday low of Rs 1,560. The inventory had opened for buying and selling at Rs 1,950 on the NSE, marking a decline of 9.3 per cent or Rs 200 from its situation value of Rs 2,150.
Paytm's Rs 18,300 crore IPO has been the largest in India's company historical past to this point - breaking a report held by state-run Coal India, which raised Rs 15,000 crore - nearly a decade in the past.
Incorporated in 2010 as a platform for cellular recharging, Paytm grew quickly after US ride-hailing agency Uber Technologies listed it as a fast cost choice in India. Its use swelled in 2016 after the federal government introduced demonetization - banning high-value forex notes, which boosted digital funds.
On Friday, November 26, shares of One97 Communications settled 0.86 per cent decrease at Rs 1,781.15 apiece on the BSE.