Mumbai: Paytm ONE97 Communication Corporate Communication Reported Net Loss Rs 780 Crore for the quarter ended December 2021 compared to the loss of Rs 461 Crore in the previous quarter and RS 519 Crore in the period last year.
The company said that its income for the quarter rose 89% to Rs 1,456 Crore driven by increased payment of traders, loan disbursement on the platform and recovery of commercial businesses from the impact of Covid.
Profit contributions (defined as income from operations minus payment processing fees, promotional cashback and incentives, and other direct costs) increased to 31.2% of income in Q3 FY21 from 8.9%.
Profit contributions reached Rs 454 Crore, which rose 560% over the quarter accordingly last year.
Average monthly transaction users (the number of unique users with at least one successful payment transaction in a month) grew 37% year to year to 6.44 crore in Q3 FY22.
Gross merchandise value of trader payment rose 123% year-on-year at Rs 2.5 lakh crore.