Digital financial services giant one97 communications - Latest News Update, Information, Photos & Videos on Digital financial services giant one97 communications at Lokmat Times

New Delhi, Aug 5 Digital financial services giant One97 Communications, that operates the brand Paytm, on Friday reported its Q1FY23 results, where it saw a massive jump in revenue from operations driven by strong monetiSation in payments, device subscriptions and accelerated adoption of high-margin businesses such as lending.In addition to 89 per cent Y-o-Y revenue growth to Rs 1,680 crore, the company also saw EBITDA (before ESOP) reduce to Rs 275 crore, an improvement of Rs 93 crore Q-o-Q. As a result, the company's contribution profit grew 197 per cent Y-o-Y to Rs 726 crore, leading to an increase in contribution margin to 43 per cent of revenues in comparison to 35 per cent in Q4FY22.Paytm's payments services revenue grew by 69 per cent Y-o-Y (3 per cent Q-o-Q), supported by rapid growth in user engagement, merchant base, use cases on the Paytm super app and subscription revenue from payment devices.The company's user engagement, measured by monthly transacting users (MTU), grew 49 per cent Y-o-Y to 74.8 million during the quarter, while the merchant base expanded 30 per cent Y-o-Y to 28.3 million. This has resulted in a 101 per cent Y-o-Y jump in Gross Merchandise Value (GMV), which stood at Rs 2.96 lakh crore during the quarter.Paytm continues to dominate the offline payments segment, with a total of 3.8 million total devices deployed, of which 2.8 million were added in the past 12 months and 0.9 million during the quarter.The company's revenue from financial services grew 393 per cent Y-o-Y during the quarter, led by massive growth in Paytm's loan distribution business. During the quarter, Paytm disbursed 8.5 million loans, representing a growth of 492 per cent Y-o-Y and 30 per cent Q-o-Q.The value of the loans disbursed stood at Rs 5,554 crore, marking a growth of 779 per cent Y-o-Y or 56 per cent Q-o-Q. Moreover, the company has now reached an annualised run rate of approximately Rs 24,000 crore of loan disbursements through its platform, with higher demand for Paytm Postpaid (BNPL), personal loans and merchant loans.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Digital financial services giant one97 communications, Latest News

International :Paytm's revenue jumps 89% to Rs 1,680 crore in Q1 FY23

New Delhi, Aug 5 Digital financial services giant One97 Communications, that operates the brand Paytm, on Friday reported ... ...