Paytm Q3 outcomes: Firm stories lack of Rs 208 crore, 36% decline in income
NEW DELHI: One97 Communications, the father or mother firm of Paytm, reported a consolidated lack of Rs 208.5 crore for the third quarter ending December 31, 2024. This marks a slight enchancment in comparison with the Rs 221.7 crore loss in the identical interval final yr.
The discount in losses was primarily as a result of decrease bills, together with fee processing fees and worker prices.
Income from operations of Paytm declined by 35.8 per cent year-on-year to Rs 1,827.8 crore, down from Rs 2,850.5 crore within the December 2023 quarter. The lower was pushed by decrease revenues from funds and monetary providers (34 per cent), fee providers (40 per cent), and advertising and marketing providers (48 per cent). Nevertheless, the income confirmed a ten per cent quarter-on-quarter enhance.
The corporate is planning worldwide enlargement and has established three abroad subsidiaries of Paytm Cloud Applied sciences within the UAE, Saudi Arabia, and Singapore.
“We consider that our technology-led service provider funds and monetary providers distribution enterprise mannequin has the potential for enlargement in comparable worldwide markets. We have now developed a portfolio of revolutionary {hardware}, software program, and providers stack in India, which may be deployed and monetised internationally. We’re exploring varied approaches, together with natural enlargement/native licenses, strategic funding and partnerships,” the corporate stated in its submitting.
In the course of the quarter, Paytm’s gross merchandise worth (GMV) reached Rs 5 lakh crore, the very best recorded so far.
Paytm’s fee processing fees diminished by 42 per cent year-on-year to Rs 570 crore.
The corporate’s month-to-month transacting consumer base grew to 7.2 crore in December, recovering from 6.8 crore in September 2024, a drop attributable to restrictions imposed on Paytm Funds Financial institution.
The corporate’s money stability elevated to Rs 12,850 crore, primarily as a result of a stake sale within the Japanese funds agency PayPay to SoftBank Group for Rs 2,372 crore.
Paytm additionally reported that its contributing revenue improved by 7 per cent quarter-on-quarter to Rs 959 crore. Contributing revenue excludes fee processing fees, promotional cashback and incentives, connectivity and content material charges, contest and ticketing bills, logistics, deployment, and assortment prices.
