In the third quarter of FY22, Paytm’s losses increased to INR 778 crore, while revenue increased by 89 per cent.
- ByStartupStory | February 5, 2022
The company’s consolidated net income increased by 89 per cent year over year to Rs 1,456.1 crore from Rs 772 crore the previous quarter, owing to increased merchant payments via MDR bearing instruments, new devices subscriptions, and loan disbursements.
Sales from operations excluding payment processing charges, promotional cashback and incentives, and other direct costs grew to 31.2 per cent of revenue in Q3 FY22 from 8.9 per cent in Q3 FY21.crore.
Paytm’s Gross Merchandise Value (GMV) was 2.5 lakh crore in Q3 FY22. Their GMV from handling MDR-bearing equipment increased by 77% year over year. When a consumer makes a payment to a merchant using any instrument, GMV is the amount processed on their platform.
Paytm Payments Bank Ltd (PPBL) is the largest beneficiary bank for UPI transactions, according to NPCI data, with a total of 926 million transactions in December 2021. It is also one of the top remitter banks for UPI transactions. In addition, PPBL controls the bulk of the market for UPI Autopay mandatory registration for periodic bill payments. The findings were released after the market had closed for the day. Paytm’s stock closed at Rs 952.90 on the BSE, up to Rs 8.40 or 0.89 per cent.
Follow Startup Story
Related Posts
