paytm: Paytm reports 461cr loss for quarter ended September

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MUMBAI: Paytm’s parent One97 Communications on Saturday reported a loss of Rs 461 crore for the quarter ended September 2021 compared to Rs 390 crore in the corresponding quarter last year and Rs 394 crore in the previous quarter ended June 2021.
Paytm, which listed this month at a discount to issue price after floating the largest initial public offering, reported an improvement in number of users, volume of transactions and contribution profits. As per company’s standalone results, the total revenue from operations was up 70% at Rs 1,051 crore compared to Rs 617 crore in the corresponding quarter last year and 24% more than Rs 846 crore income from operations in the first quarter. Paytm’s gross merchandise value in second quarter more than doubled to Rs 1,95,600 crore from Rs 94,700 crore in the corresponding quarter of 2020-21. Its average monthly transacting users during the reported quarter increased by 33% to 57.4 lakh from corresponding quarter last year. Paytm said its merchant base grew to 2.3 crore during the reported quarter from 1.85 crore in the second quarter of financial year 2021.
Losses, however, widened on the back of a 40% jump in expenses in the second quarter. Of the total expenses of Rs 1,549 crore during the quarter, 43% was toward payment processing charges. “Our consolidated Revenue from Operations grew by 64% year on year to Rs 1,086 crore in Q2 FY 2022. Revenue from Payments and Financial Services grew 69% year on year to Rs 843 crore while Commerce and Cloud Services revenue grew by 47% year on year to Rs 244 crore. The growth in revenue from payments was driven by 52% growth in non-UPI payment volumes while growth from financial services and other revenues grew more than three times,” the company stated.

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