MUMBAI: Paytm’s mother or father One97 Communications on Saturday reported a loss of Rs 461 crore for the quarter ended September 2021 in comparison with Rs 390 crore within the corresponding quarter final 12 months and Rs 394 crore within the earlier quarter ended June 2021.
Paytm, which listed this month at a reduction to problem value after floating the most important preliminary public providing, reported an enchancment in variety of customers, quantity of transactions and contribution income. As per firm’s standalone outcomes, the full income from operations was up 70% at Rs 1,051 crore in comparison with Rs 617 crore within the corresponding quarter final 12 months and 24% greater than Rs 846 crore revenue from operations within the first quarter. Paytm’s gross merchandise worth in second quarter greater than doubled to Rs 1,95,600 crore from Rs 94,700 crore within the corresponding quarter of 2020-21. Its common month-to-month transacting customers in the course of the reported quarter elevated by 33% to 57.4 lakh from corresponding quarter final 12 months. Paytm stated its service provider base grew to 2.3 crore in the course of the reported quarter from 1.85 crore within the second quarter of economic 12 months 2021.
Losses, nonetheless, widened on the again of a 40% leap in bills within the second quarter. Of the full bills of Rs 1,549 crore in the course of the quarter, 43% was towards cost processing costs. “Our consolidated Income from Operations grew by 64% 12 months on 12 months to Rs 1,086 crore in Q2 FY 2022. Income from Funds and Monetary Providers grew 69% 12 months on 12 months to Rs 843 crore whereas Commerce and Cloud Providers income grew by 47% 12 months on 12 months to Rs 244 crore. The expansion in income from funds was pushed by 52% progress in non-UPI cost volumes whereas progress from monetary companies and different revenues grew greater than 3 times,” the corporate acknowledged.
Paytm, which listed this month at a reduction to problem value after floating the most important preliminary public providing, reported an enchancment in variety of customers, quantity of transactions and contribution income. As per firm’s standalone outcomes, the full income from operations was up 70% at Rs 1,051 crore in comparison with Rs 617 crore within the corresponding quarter final 12 months and 24% greater than Rs 846 crore revenue from operations within the first quarter. Paytm’s gross merchandise worth in second quarter greater than doubled to Rs 1,95,600 crore from Rs 94,700 crore within the corresponding quarter of 2020-21. Its common month-to-month transacting customers in the course of the reported quarter elevated by 33% to 57.4 lakh from corresponding quarter final 12 months. Paytm stated its service provider base grew to 2.3 crore in the course of the reported quarter from 1.85 crore within the second quarter of economic 12 months 2021.
Losses, nonetheless, widened on the again of a 40% leap in bills within the second quarter. Of the full bills of Rs 1,549 crore in the course of the quarter, 43% was towards cost processing costs. “Our consolidated Income from Operations grew by 64% 12 months on 12 months to Rs 1,086 crore in Q2 FY 2022. Income from Funds and Monetary Providers grew 69% 12 months on 12 months to Rs 843 crore whereas Commerce and Cloud Providers income grew by 47% 12 months on 12 months to Rs 244 crore. The expansion in income from funds was pushed by 52% progress in non-UPI cost volumes whereas progress from monetary companies and different revenues grew greater than 3 times,” the corporate acknowledged.
Supply: Times of India