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One 97 Communications, which owns finetch major Paytm, reported a 78% year-on-year decline in consolidated net losses in the March quarter to Rs 167.5 crore. Net losses stood at Rs 762.5 crore in the year ago quarter. Revenue from operations during Q4FY23 increased to Rs 2,334.5 crore from Rs 1,540.9 crore posted in the year-ago period, recording a y-o-y rise of nearly 52%.
For the full year, Paytm’s net losses reduced to Rs 1,776.5 crore from Rs 2,396.4 crore reported in FY22.
Revenue from operations rose by nearly 61% y-o-y to Rs 7,990.3 crore.
“The company further improved its payment profitability with Q4FY23 net payment margin expanding 158% y-o-y to Rs 687 crore while the net payments margin was Rs 554 crore, up 107% y-o-y after excluding previous quarters’ UPI incentive,” Paytm said in a statement.
Paytm said that the user engagement on the platform continued to grow with average Monthly Transacting Users (MTU) for Q4FY23 increasing by 27% y-o-y to 9 crore on the back of increasing adoption of digital payments. Gross Merchandise Value (GMV) increased 40% y-o-y at Rs 3.62 lakh crore during the quarter.
For the full year, Paytm’s net losses reduced to Rs 1,776.5 crore from Rs 2,396.4 crore reported in FY22.
Revenue from operations rose by nearly 61% y-o-y to Rs 7,990.3 crore.
“The company further improved its payment profitability with Q4FY23 net payment margin expanding 158% y-o-y to Rs 687 crore while the net payments margin was Rs 554 crore, up 107% y-o-y after excluding previous quarters’ UPI incentive,” Paytm said in a statement.
Paytm said that the user engagement on the platform continued to grow with average Monthly Transacting Users (MTU) for Q4FY23 increasing by 27% y-o-y to 9 crore on the back of increasing adoption of digital payments. Gross Merchandise Value (GMV) increased 40% y-o-y at Rs 3.62 lakh crore during the quarter.
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