Paytm Q3 results: Paytm posted a 38 per cent rise in revenue to ₹2,851 crore in the quarter ending in December, it said in a regulatory filing on Friday.
In the October-December quarter, the fintech giant Paytm reported a robust 38 per cent YoY growth in revenue, reaching ₹2,850 crore, with EBITDA before ESOP showing an improvement of ₹188 crore YoY, totalling ₹219 crore.
Bolstered by the expansion of the net payments margin and financial services, Paytm’s contribution profit saw a substantial 45 per cent YoY increase, reaching ₹1,520 crore, the Paytm Q3 results showed. The company’s Profit After Tax (PAT) also displayed positive momentum, improving by ₹170 crore YoY to ₹222 crore in Q3FY24.
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Within its payments business, revenue surged by 45 per cent YoY to ₹1,730 crore, while the net payment margin witnessed a remarkable 63 per cent YoY rise, reaching ₹748 crore. Paytm’s subscription for payment devices exceeded a crore, standing at 1.06 crore as of December, marking a YoY increase of 49 lakh, the Paytm Q3 results showed. Additionally, the merchant payments volume (GMV) experienced a robust growth of 47 per cent YoY, reaching ₹5.10 lakh crore.
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“We see a large opportunity in the high-ticket loan business, with over 20mn users already whitelisted. We piloted this product in Q2 FY 2024 and has scaled up this quarter as we distributed USD 490 Cr of loans. We expect it to accelerate further in coming quarters, as we onboard more lending partners. We are currently working with 2 lending partners for high ticket loans and we expect to add at least 3-4 more lending partners by QI FY 2025,” said the company in a stock exchange filing.
(Inputs from wires)
