Fintech major Paytm saw its revenue surge 89% to Rs 1,456 crore in the December quarter (Q3) on an annual basis, while net loss widened 45% to Rs 778 crore. rupees.
However, the company said its contribution profit (defined as operating revenue less payment processing fees, promotional cashback and incentives, and other direct costs) improved to 31. 2% of revenue in the third quarter of FY22, compared to 8.9% in the third quarter of FY21.
“We continue to rapidly expand our customer base and merchant base. The number of consumers on our platform now exceeds 350 million and our merchant base has grown to 24.9 million from 20 million a year ago,” the company said.
The average number of users transacting per month, i.e. the number of unique users with at least one successful payment transaction in a month, increased by 37% year-on-year to reach 64.4 million in the third quarter of FY22. Meanwhile, processing merchant payments through all company-provided instruments (including Paytm Wallet, Paytm Payments bank account, other banks’ netbanking, debit cards credit and debit, UPI, etc.) increased by 123% to Rs 2.5 lakh crore.
The number of loans through the fintech platform increased to 4.4 million in the third quarter of FY22, representing growth of 401% year-on-year and 55% quarter-on-quarter. The value of these loans increased by 366% year-on-year and 73% quarter-on-quarter, to Rs 2,181 crore.
“We have seen strong growth across all of our products: Paytm Postpaid (BNPL), Personal Loans and Merchant Loans. We have extended our partnerships to 8 banks and NBFC,” the company said.
Paytm shares closed at Rs 953.25 on BSE on Friday, down 56% from its issue price of Rs 2,150 and 51% below its listing price of Rs 1,950. While the company was valued at nearly $21 billion when it went public, its market capitalization currently stands at $8.28 billion.