Paytm Q3 Results: Loss Narrows To Rs 392 Crore
CEO Vijay Shekhar Sharma said Paytm reported operational profitability before ESOPs ahead of its guidance.
Paytm's third quarter revenue rose and it reported operational profitability before cost for employee stock options ahead of its guidance.
One97 Communications Ltd., the parent company of Paytm, narrowed its net loss to Rs 392.1 crore for the quarter ended December from Rs 571.5 crore in the preceding quarter, according to its exchange filing. That compares with the Rs 529.4 crore loss estimated by analysts tracked by Bloomberg.
Paytm Q3 Highlights (QoQ)
Revenue up 8% at Rs 2,062 crore, compared with the forecast of Rs 2,120.4 crore.
Ebitda loss narrowed to Rs 330.70 crore vs Rs 537.8 crore.
Meanwhile, the company's Founder and Chief Operating Officer Vijay Shekhar Sharma said that it achieved operating profitability before ESOP ahead of target for the September 2023 quarter.
It pegged the operating profit before ESOPs at Rs 31 crore.
"The team was asked to focus on growth with quality revenues that contribute to the bottom line," said Sharma.
Oustanding loans disbursed by Paytm grew to Rs 9,958 crore as on Dec. 31, up 36% quarter-on-quarter. More than half of the value of the total loans was through postpaid or buy-now-pay-later loans, which accounted for Rs 5,202 crore loans disbursed—up 28% sequentially.
Gross merchandise value rose to Rs 3.5 lakh crore, from Rs 3.2 lakh crore as of September. A year ago, the GMV stood at Rs 2.5 lakh crore.
Its monthly transactions rose to 8.5 crore from October to December, compared to 8 crore in the preceding quarter.
Shares of One97 Communications closed 3.79% lower before the results were announced, compared to a 1.38% rise in the Nifty 50 on Friday.