Paytm Q3 loss declines to Rs 220 crore, revenue surges 38 per cent
11 months ago

Paytm Q3 loss declines to Rs 220 crore, revenue surges 38 per cent

India TV News  

One 97 Communications, the parent company of the fintech firm Paytm, announced a 38 per cent increase in third-quarter revenue attributed to the strong performance of its payments business and robust loan growth in the financial services segment. In Q3 FY24, Paytm reported a significant improvement in its net payment margin, which increased by 63 per cent to Rs 748 crore year-on-year. Despite this, financial services revenue stood at Rs 607 crore, reflecting a 36 per cent increase compared to the previous quarter. "Net payment margin has gone up 63 per cent YoY to Rs 748 Cr due to increase in payment processing margin and an increase in merchant subscription revenues. "Our Average Monthly Transacting Users for Q3 FY 2024 grew by 18 per cent YoY to 10 crore as the Paytm app remains a preferred choice for customers with its offering to pay for various use cases through comprehensive payment instruments, such as UPI, wallets, cards, etc," the company added.

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