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.
- Read: Paytm has highest penetration in digital payments: report
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.
- Read: Paytm rolls out 4G-enabled Made-in-India Soundbox 3.0
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.
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