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Business News/ Companies / Paytm Q2 results: Revenue rises 32%, net loss narrows to 292 crore
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Paytm Q2 results: Revenue rises 32%, net loss narrows to ₹292 crore

Paytm Q2 results: Loans disbursed through the platform jumped by 122 percent on-year to ₹16,211 crore, the company said, adding that the number of merchant subscriptions during the quarter increased by 14 lakh.

Paytm's consolidated EBITDA loss came in at ₹232 crore, as against an EBIDTA loss of ₹538 crore in the year-ago period. REUTERS/Dado Ruvic/Illustration/File Photo (REUTERS)Premium
Paytm's consolidated EBITDA loss came in at 232 crore, as against an EBIDTA loss of 538 crore in the year-ago period. REUTERS/Dado Ruvic/Illustration/File Photo (REUTERS)

Digital payments firm Paytm recorded a consolidate revenue from operations of 2,519 crore in the second quarter of fiscal year 2023-24 (Q2FY24), marking a growth of 32 percent as compared to 1,914 crore reported in the year-ago period.

The Vijay Shekhar Sharma-led company posted a consolidated net loss of 292 crore during the quarter under review, which is 49 percent lower as against a loss of 572 crore reported in the corresponding period of FY23.

Loans disbursed through the platform in the July-September period jumped by 122 percent on-year to 16,211 crore, the company said, adding that the number of merchant subscriptions during the quarter increased by 14 lakh.

The company recorded a negative earnings before interest, depreciation, taxes and amortisation (EBITDA) of 232 crore in Q2FY24, which is narrower as compared to an EBIDTA loss of 538 crore posted in the corresponding period of the previous fiscal.

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According to Paytm, its EBITDA before ESOP grew to 319 crore from 153 crore in the year-ago period, and the margin came in at 6 percent, which is 15 percent higher as compared to the same period of FY23.

Paytm, in a release, also noted that its net payment margin “has gone up 60 percent YoY to 707 crore due to increase in payment processing margin and increase in merchant subscription revenues".

“Contribution margin expanded to 57 percent this quarter, an increase of 13 percent point YoY, with increase in net payment margin and growth in loan distribution business," it added.

The company further noted that its average monthly transacting users (MTU) for Q2FY24 “grew by 19 percent on-year to 9.5 crore" as adoption of mobile payments for consumers in India continues.

Ahead of the release of Q2FY24 results, Paytm's scrip settled at 987.35 apiece on the BSE, up 1.93 percent as against the previous day's close.

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Published: 20 Oct 2023, 05:45 PM IST
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