One97 Communications listed as Paytm has reported a consolidated net loss of 644.4 crore in the quarter ended June 30, 2022 (Q1FY22), widened by a loss of Rs. 380.2 crore in the first quarter of the previous year. Q1 net loss, however, narrowed from 761.4 crores of the previous quarter. Consolidated revenue from operations stood at 1,679.6 crore in Q1FY23, a growth of 88.55% year-on-year and qoq 9%.
“On a QoQ basis, revenue grew 9%, driven by new device subscriptions, utility bill payments, ticketing and loan disbursement. We did account-level rationalization among online merchants to focus on profitable GMV (Revenue Effect.) 29 crores). It is also worth noting that in the quarter, there were certain offsetting factors: a) we did not register any government incentives on UPI transactions and b) there was pressure on advertising revenue due to macroeconomic factors,” Paytm said in its financial audit report. .
In Q1FY23, the GMV of the company was 3 lakh crores an increase of 101% annually. The company continued to grow its Monthly Transaction Users (MTU), driven by customer acquisition through UPI and expansion of its registered merchant base, to 74.8 million from 28.3 million (6.5 in comparison). million increase). 21.8 million in Q1 FY 2022).
Paytm That said, GMV from MDR-bearing devices grew 52% annually. Government incentives have now made UPI P2M GMV financially viable as well. It added, “Therefore we are able to monetize transactions through all payment instruments. We charge platform fees and convenience charges from customers, MDR on cards, net banking and wallet transactions from merchants and payment instruments in certain use cases.” but also earn subscription revenue.”
In Q1FY23, the company’s payment services revenue grew 73% year-on-year and 11% quarter-on-quarter 519 crores as the company continued to grow the user base on its app for bill payments and other use cases. Paytm’s payment services to consumers include income from use cases such as bill payments and top-ups on the Paytm app. The consumer pays the platform fee for select cases and the merchant pays the MDR.
In addition, in Q1FY23, the company’s revenue from payment services to merchants grew 67% annually Driven by strong growth of MDR-bearing devices GMV 557 crore, and subscription revenue from its payment instruments, more than 2.8 million devices were added over the past 12 months, bringing its total deployed base to 3.8 per cent by the end of the first quarter of FY2023. Million gone.
“Our revenue contracted marginally by 3% on a QoQ basis, primarily as we undertook account level rationalization among online merchants to focus on profitable GMV (revenue impact). 29 crores). Although government incentives are announced in the annual budget, we will record the revenue after the final notification is issued by MeitY. Hence, we recorded zero UPI revenue in this quarter.”
In terms of offline payment services, Paytm said, “Despite being conservative about the quality of merchants we have onboarded, continued strong growth in payment device deployment with over 0.9 million devices in Q1 FY 2023. Device merchants Traders accounted for more than 75%. Loan disbursement.”
In addition, in Q1FY23, its revenue from financial services and others grew by 393% year-on-year 271 crore and 16% of the total revenue, up from 6% in Q1 FY 2022. The increase in revenue was primarily driven by a 779% YoY increase in the value of loans disbursed. QoQ growth in revenue was 61%, driven by growth in postpaid and personal loan disbursements.
During the quarter, the number of loans disbursed through the company’s platform increased to 8.5 million, representing an increase of 492% YoY and 30% QoQ. The value of loans disbursed increased 5,554 crore, an increase of 779% YoY and 56% QoQ, thus highlighting the increase in the average value of loans disbursed.
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