One97 Communications, which owns the Paytm brand, has reported a consolidated net loss of ₹168 crore for the quarter ended March 31, 2023.
This loss is significantly narrower than the net loss of ₹761 in the same quarter last year and the net loss of ₹392 crore in the recent December quarter.
For the entire fiscal 2022-23, Paytm’s consolidated net loss came in at ₹1,776 crore, substantially narrower than the net loss of ₹2,396 crore in the previous fiscal.
Consolidated revenue from operations for the quarter under review surged by 51 per cent YoY to ₹2,334 crore. The revenue growth was led by an increase in gross merchandise value (GMV), higher merchant subscription revenues, and growth of loans distributed through the company’s platform.
Gross merchandise value (GMV) for the quarter rose 40 per cent YoY to ₹3.62 lakh crore (₹3.46 lakh crore)
The average monthly transacting users (MTU) for Q4 grew by 27 per cent year on year to 9 crore because of the continued adoption of mobile payments by consumers and merchants in India.