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Paytm’s second quarter net loss increases 20% yoy to ₹571 crore, but narrows sequentially

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Digital Payments and Financial Services Company PayNet losses in the second quarter rose 20% to ₹571 crore, it said Monday. For the same quarter last year, net losses were ₹473 crore. Consecutively, net losses fell 11% from ₹645 crore in the June quarter.



Paytm posted 76 percent year-over-year revenue growth to 1,914 crore in Q2FY23, while EBITDA before ESOP charges improved 61% yoy to ₹259 crore.

The company has reported strong traction across all of its businesses, delivering stronger revenue growth, with EBITDA improving before ESOP charges (improving ₹200 crore in the last two quarters).

It also witnessed a sustained increase in membership profit from 224 percent year-on-year and 16 percent quarter-on-quarter to ₹843 crore.

The company’s payments revenue grew 56 percent year-over-year and 9 percent quarter-on-quarter in Q2FY23 with continued platform expansion, increased user engagement, growing merchant count and device-led leadership in offline payments.

Payment services revenues to consumers were 549 crore, up 55 percent year-on-year, while payment services to merchants were ₹624 crore, up 56 percent year-on-year. This was achieved without any UPI incentive.

The company said its net payment margin (calculated as payment income plus other operating income, less payment processing fees) was 443 crore, up 428 percent year-on-year.

The commerce and cloud services reported revenue of ₹377 crore – a 55 percent year-over-year growth.

Paytm’s rapid expansion in loan distribution has become the primary catalyst for financial services revenue, which now accounts for 18 percent of the company’s total revenue, compared to 8 percent in Q2 22. financial services were 349 crore, up 293 percent year-on-year and 29 percent quarter-on-quarter.

The company further added that it “sees a long growth path ahead” in loan distribution (paytm postpaid, personal loans, trade loans).

In Q2FY23, Paytm’s postpaid disbursements were ₹4,050 crore, (449 percent yoy and 20 percent qoq), while personal loan disbursements were ₹2,055 crore (736 percent yoy and 53 percent qoq).

Meanwhile, trade loan disbursements were ₹1,208 crore (342 percent year-on-year and 46 percent quarter-on-quarter) due to the growth in devices.

(With input from IANS)

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