Business

Paytm Q3 Revenue Rises 88% To Rs 1,456 Crore, Despite Loss

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Paytm's losses have widened in December quarter period of current fiscalNew Delhi: Digital payments company One97 Communications, the parent entity of Paytm, on Friday reported a consolidated loss of Rs 778.5 crore in the December 2021 quarter, mainly due to ESOP costs.

However its consolidated revenue from operations increased by about 88 per cent to Rs 1,456.1 crore during the reported quarter from Rs 772 crore it posted in the December 2020 quarter. The company had registered a loss of Rs 535.5 crore in the same period a year ago, according to financial results of the company filed at the Bombay stock exchange (BSE)."Strong growth is driven by an increase in merchant payments processed through MDR (merchant discount rate) bearing instruments (Paytm Wallet, Paytm bank account, other banks net banking, debit and credit cards), disbursements of loans on platform and recovery of commerce business from Covid impact," Paytm said in the BSE filing.Revenue from payment services to consumers increased by 60 percent YoY to Rs 406 crore, driven by growth in transaction volumes of Paytm payment instruments and the introduction of new use-cases.




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