Tag: Paytm

Paytm logs Rs 7,990 cr revenue in FY23, becomes India’s highest earning new-age firm

[ad_1]
New Delhi: Leading payments and financial services company Paytm on Friday announced an impressive growth in its fourth quarter of FY23, ending the financial year on a high note.
In Q4 FY23, the company’s revenue surged by 51 percent (year-on-year) to reach Rs 2,334 crore, while the full-year revenue increased by 61 percent YoY to Rs 7,990 crore, making it the highest earning new-age company.
In Q4, Paytm further grew its operating profit by Rs 234 crore. In Q4, Paytm’s EBITDA before ESOP costs, excluding UPI incentives, rose to Rs 101 crore, a significant improvement from the previous fiscal’s Q4 figure of (Rs 368 crore).

This was achieved by the increased pace of monetisation, better cost management, and higher operating leverage, said the company.
In the fourth quarter, Paytm’s payments revenue grew by 41 percent YoY to Rs 1,467 crore.
According to the company, including only current quarter’s UPI incentive only, net payments margin for Q4 FY 2023 was Rs 554 crore, up 107 percent YoY. In the current fiscal year, net payments margin increased 2.9x to Rs 1,970 crore, demonstrating the profitability of the payment business, despite the higher share of UPI.
Excluding prior quarters’ UPI incentive, payments revenue grew 28 percent YoY. For FY23, led by increase in payment volume, and higher subscription revenue from device merchants, the payment revenue increased 44 percent to Rs 4,928 crore in FY23.
Paytm significantly increased its loan distribution business with revenue from financial services and others growing 183 percent YoY to Rs 475 crore in Q4 FY 2023 and by 253 percent in FY 2023 to Rs 1,540 crore. This was largely on account of a 364 percent increase in the value of loans disbursed through its platform, said the company.

The company continues to monetise Paytm app traffic in its commerce and cloud segment by providing marketing services to its merchants. In Q4 FY 2023, Paytm’s commerce and cloud revenue grew by 23 percent YoY to Rs 392 crore.
In FY 2023, commerce and cloud revenue grew by 38 percent to Rs 1,520 crore.
Paytm’s contribution margin improved from 30 percent in FY 2022 to 49 percent in FY 2023, due to improved payments profitability, and growth in high margin loan distribution business.
The company’s user engagement on the platform continues to grow, with average Monthly Transacting Users (MTU) for Q4FY23 increasing by 27 percent YoY to 90 million, indicating a growing adoption of digital payments by consumers and merchants in India.
The company’s Gross Merchandise Value (GMV), which stood at Rs 3.62 lakh crore for Q4 FY 2023, saw an increase of 40 percent YoY.
The company’s loan distribution business, in partnership with marquee lenders, has continued to scale, with the total number of loans growing to 1.2 crore in Q4FY23, up 82 percent YoY, and the total value of loans amounting to Rs 12,554 crore, registering a growth of 253 percent YoY.
Paytm claims its vision is to onboard 10 crore merchants with over 50 crore payment users in the near future. The decacorn has seven lending partners and they aim to enlist 3-4 partners in FY 2024.
[ad_2]
#Paytm #logs #revenue #FY23 #Indias #highest #earning #newage #firm
( With inputs from www.siasat.com )

May 5, 2023
Paytm enables digital donations at Kedarnath temple via Paytm QR

[ad_1]
New Delhi: One97 Communications Ltd (OCL), that owns leading digital payments brand Paytm, on Wednesday enabled devotees visiting the Kedarnath shrine to make donations using Paytm UPI or Wallet by scanning Paytm QR code.
Devotees from across India can make donations at the holy temple, situated in Rudraprayag district of Uttarakhand, from the comfort of their homes through Paytm Super App.
“As the pioneer of QR and mobile payments in India, we have enabled digital donations at the doors of the Kedarnath temple, where devotees can scan the Paytm QR code at the shrine and pay through Paytm UPI, Paytm Wallet and more,” said a Paytm spokesperson.

“We remain committed towards driving financial inclusion by taking our innovative mobile payment solutions to every nook and corner of the country,” the spokesperson added.
Kedarnath temple is the remotest pilgrimage spot in the Char Dham yatra and reopened its doors for the devotees on Tuesday.
Devotees visiting the temple can easily scan Paytm QR code and pay through Paytm UPI among other payment methods like Paytm Wallet, Paytm UPI LITE, Paytm Postpaid and more.
Paytm is India’s payment Super App offering consumers and merchants most comprehensive payment services.
Pioneer of the mobile QR payments revolution in India, Paytm’s mission is to bring half a billion Indians into the mainstream economy through technology-led financial services.

[ad_2]
#Paytm #enables #digital #donations #Kedarnath #temple #Paytm
( With inputs from www.siasat.com )

April 26, 2023
Paytm signs MoU with Andhra govt to empower millions of merchants, street vendors

[ad_1]
Delhi: One97 Communications Limited, that owns leading payments and financial services company Paytm, on Monday announced it has signed a memorandum of understanding (MoU) with the Andhra Pradesh government to drive initiatives in financial inclusion, public health and cyber security and empower millions of merchants, street vendors and hawkers in the state.
The MoU was signed on the sidelines of the Andhra Pradesh ‘Global Investors Summit 2023’, in the presence of Saurabh Gaur, Secretary, IT, Electronics and Communications, state government and Vijay Shekhar Sharma, Founder, Managing Director and CEO, Paytm.
“We are happy to partner with the government of Andhra Pradesh in their journey of sustainable development through inclusive growth. We are fully committed to driving financial inclusion at the last mile and this partnership is a step in that direction,” said Sharma.
“We will continue to empower the people of Andhra Pradesh by enabling lakhs of small businesses with mobile payments and access to various financial services,” he added.
Under the MoU, Paytm plans to empower merchants, street vendors and ‘ChiruVyaparulu’ (street hawkers) in the state to accept digital payments and provide them access to loans through its lending partners.
Paytm plans to extend its platform for providing e-government services, which will be conveniently accessible to all Paytm Super App users.
Additionally, the company aims to empower various state government departments to accept digital payments from citizens and businesses, thereby enhancing service delivery for the people.
The company proposed to also enable the digitisation of toll plazas across the state to accept payments digitally.

In the area of public health, Paytm proposed to collaborate with the State Health Authority in facilitating seamless OPD appointment booking at government and private hospitals under the forthcoming Unified Health Interface (UHI) programme.
Paytm also plans to conduct cybersecurity training for state police personnel and launch a joint campaign to raise awareness of cybersecurity best practices among citizens, particularly those residing in non-urban areas.
[ad_2]
#Paytm #signs #MoU #Andhra #govt #empower #millions #merchants #street #vendors
( With inputs from www.siasat.com )

March 6, 2023
Paytm share surpasses Yes Securities, Morgan Stanley target; rallies for 4 straight days

[ad_1]
New Delhi: After receiving buy ratings from all the top global and domestic brokerage and research firms, Paytm stock price has surpassed the target prices pegged by Morgan Stanley and YES Securities, while is just inches away from the targets set by Bank of America, CLSA, and JM Financial Services.
In a span of four trading days, Paytm share price has rallied more than 36 per cent, reclaiming the 700-mark.
The analysts turned bullish and raised target price on Paytm stock after the company achieved an operating profitability milestone with EBITDA before ESOP cost at Rs 31 crore, significantly ahead of its guided timeline of September 2023.
In the last one month, One97 Communications (Paytm) scrip has surged 30 per cent, and nearly 40 per cent so far in 2023.
Morgan Stanley and YES Securities had pegged Rs 695, and Rs 600, respectively, as target price for Paytm.
While BofA, CLSA, and Bandhan Bank gave Rs 730, Rs 750, and Rs 750, respectively, as target prices.
The fintech giant’s revenue from operations increased 42 per cent (year-on-year) to Rs 2,062 crore, driven by growth in its core payments business and sustained growth momentum in credit business and commerce business.
Paytm in its business operating performance for January 2023, registered consistent growth in total merchant payments value.

The total merchant GMV processed through the platform in January aggregated to Rs 1.2 lakh crore ($15 billion), marking a YoY growth of 44 per cent.
The company continued to reign the market in offline payments with 6.1 million merchants now paying subscriptions for payment devices, while MTU stood at 89 million, registering a robust growth of 29 per cent YoY.
[ad_2]
#Paytm #share #surpasses #Securities #Morgan #Stanley #target #rallies #straight #days
( With inputs from www.siasat.com )

February 9, 2023