Paytm’s parent firm One97 Communications has narrowed its consolidated net loss to Rs 392 crore in the quarter to December 2022 from Rs 778 crore loss in the corresponding quarter a year ago, the company said in an exchange filing.
The digital financial services firm posted a revenue from operations of Rs 2,062.2 crore during the quarter under review, showing a jump of about 42 percent from Rs 1,456 crore in October-December 2021.
Paytm founder and CEO Vijay Shekhar Sharma said the company has achieved its target for operational profit, excluding ESOP cost, during the reported quarter.
EBITDA before ESOP cost stood at Rs 31 crore with EBITDA before ESOP margin at 2 percent of revenues as compared to 27 percent in the corresponding quarter of 2021.
The company said its performance is driven by increased adoption by consumers and subscription services by merchant partners along with sustained growth seen in loan distribution and commerce business.
Its revenue from financial services, which majorly is loan distribution, now accounts for 22 percent of total revenues, as against 9 percent in the same quarter last quarter.
“This has been made possible due to the relentlessly focused execution by our team. The team was asked to focus on growth with quality revenues that contribute to the bottom line,” said Sharma, adding that the company has achieved this milestone without losing sight on growth opportunities and keeping all compliances as well as risk factors under a strict watch.
Shares of the company closed 3.83 percent down at Rs 524.9 apiece on the BSE on Friday. The results came post market hours on Friday.
