Paytm Q1FY24: Consolidated net losses decline by 44.5% y-o-y but widen sequentially – Times of India
Sequentially, though, losses have increased. In the March quarter, Paytm had reported losses of Rs 167.5 crore.
“Driven by an increase in merchant subscription revenue, jump in GMV (gross merchandise value), and growth in loan disbursements, the company’s strong growth momentum continues, Paytm said in a statement. The fintech major said that it expects a continued topline growth and operating leverage to drive profitability in the coming quarters. “The company’s indirect costs (excluding ESOP cost) have increased along expected lines (up 22% year-on-year) due to seasonal increase in marketing costs and impact of appraisals. Indirect expenses (as a % of revenues), has declined to 52%, from 60% in Q1FY23,” the company said.
As adoption of digital payments for consumers and merchants in India continues, user engagement on the platform continues to grow with average monthly transacting users (MTU) of 9.2 crore, a jump of 23% year-on-year.
Shares of One 97 Communications ended at Rs 843.55 apiece on the BSE on Friday, down 0.89%.
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