One97 Communications Limited, which has the PAYTM brand, has announced the results of the FY2022 Q3.
During the October-December quarter, the company saw its income jumped 89% Y-O-Y to Rs 1,456 Crore, EBITDA losses (before the cost of ESOP) down to RS 393 Crore from Rs 488 Crore in the same quarter of the previous year.
This income increase is led by high monetization and the growth of merchant payments through MDR bearing instruments, new device subscriptions and loan disbursement.
The company also saw the average monthly transaction user of 64.4 million, and GMV RS 2.5 Lakh Crore.
Company income from payment services to consumers rose 60% at ₹ 406 crore, while income from payment services to traders rose 117% to RS 586 Crore.
Cloud and Commerce services also saw their income jumped by 64% to RS 339 Crore.
The main part of the Q3 results is seen in the financial services game increasing.
The company channeled 4.4 million loans (401% Y-O-Y growth) which was reduced to the total value of Rs 2,181 Crore (Y-O-Y 366% growth).
The company’s credit business spreads in three main verticals – Paytm postpaid (buy now, pay later), merchant loans and personal loans, scale saws.
Paytm spokesman said, “Our business is to offer payments for consumers and traders, and high margin financial services and trade for them.
We get customers on our consumer application for bill payments, money transfers and payment of offline traders, and offering paytm payment instruments (Paytm Wallet, Paytm Payment Bank Account, and Paytm Postpaid) and paytm upi.
We obtain traders for QR, EDC and Soulbox devices and payment gateways (for online traders).
We use insights from our platform to offer a variety of financial products to customers And our traders.
We also provide high margin services and cloud services to our traders to help them allow trade to use the Paytm application.
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