DelhiDesk Paytm, the veteran fintech company, has reported a 52% increase in revenue to INR 2,335 crore ($312 million) for the March quarter, while its net loss fell to INR 168 crore from INR 763 crore in the same period last year. The company said revenue from its payment services segment rose 41% to INR 1,467 crore, while its net payment margin rose 158% year on year to INR 687 crore. Paytm’s credit distribution business saw strong growth in the quarter, with the company disbursing 120 lakh loans worth INR 12,253 crore, a rise of 82% on an annual basis.
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Here is the news bullets sorted by DelhiBreakings.com team.
– Paytm’s revenue in March quarter increased by 52% to Rs 2335 crore
– Net loss decreased to Rs 168 crore in the March quarter of FY2023 from Rs 763 crore in the same quarter of the previous financial year
– Revenue from payment service increased by 41% to Rs 1467 crore in the March quarter
– Payment segment made better profits with net payment margin growing 158% YoY to Rs 687 crore
– Gross merchandise value increased by 40% to Rs 3,62,000 crore in the fourth quarter of FY2023
– Paytm’s credit distribution business saw 82% growth with 1.2 crore loans disbursed during March quarter
– 95 lakh borrowers availed loans through the platform till March 2023 quarter
– Loans disbursed for the financial year 2023 increased by 163% on an annual basis to 4 crore loans amounting to Rs 35,378 crore
– Paytm stock surged ahead of Q4 results
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