Paytm’s Revenue From Operations Grew 42% In Q3 FY23

Payments company Paytm has reported that its revenue from operations has grown by 42 per cent year-on-year (YoY) to Rs 2,062 crore in Q3 FY23.

The company said that this growth was driven by increase in merchant subscription revenues, growth in loan distribution and momentum in commerce business. 

For payments, the company’s Gross Merchandise Value grew by 38 per cent YoY to Rs 3.5 Lakh crore and the reported revenue grew by 21 per cent YoY to Rs 1,197 crore. 

During the quarter, Paytm’s Merchant Subscriptions (Payment devices) grew to 5.8 million, an increase of 3.8 million YoY.

Meanwhile the Loans Disbursed through Paytm touched Rs 9,958 crore, a 357 per cent jump YoY.

In financial service segment, Paytm’s revenue in Q3 grew 257 per cent YoY to Rs 446 crore and accounts for 22 per cent of total revenues, up from 9 per cent in Q3 FY 2022. “This has also helped in expansion of contribution profit, given the higher margin nature of this business. The growth in revenue was primarily driven by 357 per cent YoY growth in the value of loans disbursed,” the company stated.

In Q3 FY23 Paytm’s EBITDA before ESOP cost was Rs 31 crore as compared to Rs 393 crore in Q3 FY 2022 and Rs 166 crore in Q2 FY 2023.