According to the company, revenue from the distribution of financial services surged 63% YoY to Rs 611 crore, supported by growth in merchant loans and improved collections. During the quarter, around 6.5 lakh consumers and merchants availed Paytm's financial services.
The company reported an operating revenue of Rs 1,502 Cr, with Earnings before Interest, Tax, Depreciation, and Amortisation (EBITDA) loss standing at Rs 792 Cr. EBITDA before ESOP stood at loss of Rs 545 Cr, as stated previously.
One 97 Communications, that operates popular fintech brand Paytm, reported a 25 per cent rise in revenue at Rs 9,978 crore in the just concluded financial year 2023-24.
Paytm has announced its October-December quarter earnings showing a strong growth momentum led by higher subscription revenue, improvement in margin and payments business revenue.
Paytm’s payment revenue has increased 31 per cent YoY to Rs 1,414 crore. This comes as the company’s net processing margin went up 69 per cent YoY on year to Rs 648 crore.