Mumbai: Leading finanical services company of the country Paytm on Friday reported a sharp decline in net loss at Rs 168.4 crore in the quarter ended 31 March, 2023. The company had reported a loss of Rs 761.4 crore in the corresponding quarter last fiscal. In the December quarter FY23, the company had booked loss of Rs 392 crore.
Paytm’s Q4 FY23 earnings were backed by growth in GMV, higher merchant subscription revenues, growth of loans disbursed, and full years’ UPI incentives reported during the quarter.
During Q4 FY23, the fintech registered Rs 2,334 crore in revenue from operations, which was up 51 per cent year-on-year (YoY) with the support of growth in payments and loan distribution business.
For whole FY23, Paytm’s EBITDA before ESOP cost was at Rs 176 crore, which is higher than Rs 1,342 crore from a year ago. Paytm achieved its operating profitability milestone in Q3FY23, much ahead of its September 2024 guidance.
Meanwhile, the company’s full year FY23 revenue growth was up 61 per cent YoY at Rs 7,990 crore driven by payments monetsation and the growing scale of its loan distribution business.
“We are well funded considering net cash balance and improving profitability. As of quarter ending March 2023, we have Rs 8,275 Cr as cash balances as compared to Rs 9,271 Cr as on March 2022,” said Paytm in a release.
In Q4 FY 2023, payments revenue grew by 41 per cent YoY to Rs 1,467 crore. Including current quarter’s UPI incentive only, payment revenue grew 28 per cent YoY. Payments profitability improved with the quarter’s net payment margin expanding 158 per cent YoY to Rs 687 crore.
Paytm recorded UPI incentive of Rs 182 crore for FY 2023, of which Rs 49 crore pertains to Q4 FY 2023. Including current quarter’s UPI incentive only, revenue growth was 43 per cent.
The company’s payments business’ revenue posted a healthy rise of Rs 41 per cent to
The number of merchant loans disbursed grew 258 per cent YoY, while the value of merchant loans grew 309 per cent YoY to Rs 2,313 crore.
