One97 Communications, which owns the Paytm brand, reported a consolidated net loss of ₹168 crore for the quarter ended March 31, 2023.
This loss significantly narrows the net loss of ₹761 in the same quarter last year and a net loss of ₹392 crore in the recent quarter.
Over the full fiscal 2022-23, Paytm’s consolidated net loss stood at ₹1,776 crore, significantly narrower than the ₹2,396 crore net loss in the previous fiscal.
Consolidated revenue from operations in the quarter under review increased 51% year-on-year to ₹2,334 crore. Revenue growth was led by an increase in gross merchandise value (GMV), higher seller registration revenue, and growth in loans distributed through the company’s platform.
Gross merchandise value (GMV) for the quarter increased 40% year-on-year to lakh crore 3.62 lakh crore (3.46 lakh crore)
Average monthly transaction users (MTU) in Q4 grew 27% y/y to 9 points as consumers and merchants in India continued to adopt mobile payments.