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Paytm Expects 90% Revenue Growth In Q1FY23

Paytm reported revenue growth of 89 per cent YoY in 4QFY22 (4 per cent of ahead of GSe), with payments take rate (non-UPI) continuing to rise over the last two quarters, vs investors’ earlier expectations of a steady decline

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Paytm’s Q4FY22 results exhibited another quarter of strong and improving monetisation of the payments vertical, while growth momentum for financial services and cloud businesses remain robust.

Paytm reported revenue growth of 89 per cent YoY in 4QFY22 (4 per cent of ahead of GSe), with payments take rate (non-UPI) continuing to rise over the last two quarters, vs investors’ earlier expectations of a steady decline. 

Overall, the topline estimates by 3-4 per cent and expect growth momentum to sustain. The company forecast 90 per cent YoY revenue growth for Paytm in Q1FY23, with 38 per cent FY22-25E revenue CAGR.

It is expected that the company's increase in scale and increasing mix of non-payments revenues to result in an improving margin trend, with the company reaching adjusted EBITDA breakeven by end of FY24E, with USD 1 bn of cash on books by then.

Paytm will invest up to Rs 9.5 bn (USD 130 mn) over the course of next 10 years in Paytm General Insurance (general insurance business, yet to commence operations), and will hold an upfront equity stake of 74 per cent in the entity (currently 49 per cent stake in the entity).



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