Tag: Revenue

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

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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.
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( With inputs from www.siasat.com )

May 5, 2023
This firm gifts iPads to over 21K employees to celebrate $1 bn revenue mark

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New Delhi: Global IT solutions provider Coforge (formerly NIIT Technologies) surpassed $1 billion (over Rs 8,014 crore) in revenue in FY23, registering PAT at Rs 8,117 million (Rs 811 crore), up 22.7 per cent (on-year), it announced on Thursday.
The company also announced to gift an Apple iPad to each of its more than 21,000 employees to celebrate the milestone.
The revenue for the March quarter (Q4 FY23) was $264.4 million (Rs 2,170 crore), with PAT at Rs 232 crore for the January-March period.

“We believe that our performance during the quarter was marked by two key achievements. The first was a quarterly sequential US$ growth of 5 per cent. The second major landmark has been the firm crossing the $1 billion revenue mark. Our performance heading in to FY24 sets us up well to deliver robust growth,” said Sudhir Singh, CEO, Coforge.
For FY24, the firm issued an annual revenue growth guidance of 13-16 per cent in constant currency terms, expects a gross margin increase of about 50 bps and adjusted EBITDA margin to be at similar levels as FY23.
The Board has recommended an interim dividend of Rs 19 per share, and the record date for this payout will be May 9, 2023.
Coforge leverages emerging technologies and deep domain expertise to deliver real-world business impact for its clients. The firm has a presence in 21 countries with 25 delivery centers across nine countries.

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( With inputs from www.siasat.com )

April 27, 2023
CS Launches 3 online initiatives of Revenue Department

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Jammu, April 26 (GNS): Chief Secretary, Dr Arun Kumar Mehta today launched 3 online services of the Revenue and Registration Departments.
The services include Downloading of Registered Document, Aadhaar based authentication and online portal of Evacuee Property.
The launch was attended by Financial Commissioner Revenue Shaleen Kabra, Commissioner Secretary IT Prerna Puri and Secretary Revenue Dr. Piyush Singla, IGR J&K Sheikh Arshad Ayub, Custodian General Rajesh Sharma and other officers of the Revenue Department.
The feature of online downloading will enable citizens to have access to the copy of registered document immediately upon registration and thus, shall no longer have to visit the Sub Registrar Office on the next day to collect it. This shall save time and effort of the citizens as well as substantially reduce the burden on the official staff. This will further entail the change in PSGA timelines from 2 days to a single day.
Aadhaar based authentication in document registration shall enable online identification of intending parties from the server of UIDAI (Unique Identification Authority of India) and thereby eliminate the chances of fraud or impersonation and also rule out ‘benami’ transactions. In future, this will enable the department to dispense with the need of identifiers in registration and finally pave the way for e-registration.
Chief Secretary was informed that the Registration portal namely NGDRS has already been integrated with key services such as PAN verification, Rapid Assessment System (RAS) and DigiLocker.
While commending the Revenue Department on the achievement of important milestones, Chief Secretary stressed on strengthening the online portals so that citizens do not have to face any speed or connectivity related issues while uploading or downloading their documents. He further directed the Revenue Department to conduct a workshop for field functionaries of the Department and come up with a comprehensive roadmap for demystification of revenue terminology, so that it becomes accessible and understandable for the common man.
He further directed the Department to expeditiously pursue the Scanning and Digitization of Legacy Registration data from the courts. He noted that online seeding of old registration data shall be a massive reform which shall hugely benefit the citizens in assurance of titles and can minimize the burden on the official machinery.

Custodian General J&K gave a brief presentation on the launch of the Evacuee Property Portal jkcustodian.jk.gov.in which contains a database of all the evacuee property of the UT spread over 14 Lakh kanals, services such as e-auction of property, Issuance of NOCs, Change of use of property, Renewal of rent, transfer of allotment, etc.(GNS)
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#Launches #online #initiatives #Revenue #Department
( With inputs from : thegnskashmir.com )

April 26, 2023
CS Launches Three Online Initiatives Of Revenue Department

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SRINAGAR: Chief Secretary, Dr Arun Kumar Mehta on Wednesday launched 3 online services of the Revenue and Registration Departments.
The services include Downloading of Registered Document, Aadhaar based authentication and online portal of Evacuee Property.
The launch was attended by Financial Commissioner Revenue Shaleen Kabra, Commissioner Secretary IT Prerna Puri and Secretary Revenue Dr. Piyush Singla, IGR J&K Sheikh Arshad Ayub, Custodian General Rajesh Sharma and other officers of the Revenue Department.
The feature of online downloading will enable citizens to have access to the copy of registered document immediately upon registration and thus, shall no longer have to visit the Sub Registrar Office on the next day to collect it. This shall save time and effort of the citizens as well as substantially reduce the burden on the official staff. This will further entail the change in PSGA timelines from 2 days to a single day.
Aadhaar based authentication in document registration shall enable online identification of intending parties from the server of UIDAI (Unique Identification Authority of India) and thereby eliminate the chances of fraud or impersonation and also rule out ‘benami’ transactions. In future, this will enable the department to dispense with the need of identifiers in registration and finally pave the way for e-registration.
Chief Secretary was informed that the Registration portal namely NGDRS has already been integrated with key services such as PAN verification, Rapid Assessment System (RAS) and DigiLocker.
While commending the Revenue Department on the achievement of important milestones, Chief Secretary stressed on strengthening the online portals so that citizens do not have to face any speed or connectivity related issues while uploading or downloading their documents. He further directed the Revenue Department to conduct a workshop for field functionaries of the Department and come up with a comprehensive roadmap for demystification of revenue terminology, so that it becomes accessible and understandable for the common man.
He further directed the Department to expeditiously pursue the Scanning and Digitization of Legacy Registration data from the courts. He noted that online seeding of old registration data shall be a massive reform which shall hugely benefit the citizens in assurance of titles and can minimize the burden on the official machinery.

Custodian General J&K gave a brief presentation on the launch of the Evacuee Property Portal jkcustodian.jk.gov.in which contains a database of all the evacuee property of the UT spread over 14 Lakh kanals, services such as e-auction of property, Issuance of NOCs, Change of use of property, Renewal of rent, transfer of allotment, etc.(GNS)

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#Launches #Online #Initiatives #Revenue #Department
( With inputs from : kashmirlife.net )

April 26, 2023
Alphabet revenue unexpectedly rises in first quarter amid industry slowdown

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Alphabet stocks rose in after-hours trading on Tuesday after the tech firm beat analyst expectations for first-quarter earnings, marking an unexpectedly bright spot in the otherwise struggling tech sector.
The company reported first-quarter revenue of $69.8bn, up 3% year-over-year and above analyst predictions of $68.9bn. Its cloud business reported a profit for the first time since its launch, taking in $191m.
Shares were up nearly 3% in after-hours trading, as investors were heartened by Alphabet’s announcement of a $70bn stock buyback.
In a statement accompanying the report, the company’s chief executive, Sundar Pichai, acknowledged the growing momentum of its cloud services and Alphabet is continuing to invest in search capabilities, including in the use of artificial intelligence.
“We introduced important product updates anchored in deep computer science and AI,” he said. “Our North Star is providing the most helpful answers for our users, and we see huge opportunities ahead, continuing our long track record of innovation.”
Artificial intelligence was a big focus of the day, mentioned upwards of 60 times during a call with investors accompanying the report. Pichai said the company would accelerate its development of AI, with safeguards in place. After the success of Microsoft-owned ChatGPT, Alphabet announced Bard – its own AI chatbot – in February.
“As we continue to bring AI to our products, our AI principles and the highest tenets of information integrity remain at the core of all our work,” Pichai said.
While in previous earnings reports Alphabet fared better than some of its peers such as Meta and Twitter, it had stumbled in recent months, announcing in August it would freeze hiring. In January it cut more than 12,000 jobs, or 6% of its global workforce, and a leaked internal memo in March revealed Alphabet would be cutting back on some employee perks in an effort to save money.

Tuesday’s report suggests a potential recovery, even as the YouTube parent company has struggled to compete with the meteoric rise of TikTok, reporting in its previous earnings that YouTube ad revenue in quarter four of 2022 shrank for the first time in the company’s history – falling about 2% to $7bn from $7.2bn year over year.
YouTube ad revenue was down 2.6% in the quarter, but at $6.69bn still beat the $6.64bn expected by analysts. The company is continuing to invest in short-form video to compete with TikTok, and Pichai stated in the call on Tuesday that YouTube Shorts now has 50bn daily views, up from 30bn this time last year.
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The rare beat comes as the tech sector continues to hobble through a downturn. All eyes will be on ongoing earnings reports, with Meta set to release its own on Wednesday and Apple reporting on Thursday.
The company stated in its report that despite layoffs, its headcount was up 16% year over year. But despite the relatively positive report, investor optimism remains “modest”, said Max Willens, a senior analyst at market research firm Insider Intelligence.
“Its cloud segment turning a profit is notable, and a testament to management’s diligence in steering Cloud toward profitability. But the reality is that Google Cloud remains comfortably behind its two most important competitors, and its growth is slowing,” he said.
He added that Google’s core business, advertising revenue, remains “under threat”, with YouTube revenues declining again and other revenues rising less than 2%. “Google’s core business is facing the most serious challenges it has encountered in quite some time,” he said.

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( With inputs from : www.theguardian.com )

April 26, 2023
KPDCL Collects Revenue Of Rs 1550 Cr In FY 2022-23

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SRINAGAR: The government on Friday said that it has collected revenue of Rs 1550 crore in the financial year 2022-23 in Kashmir.
Quoting an official in the Kashmir Power Distribution Corporation Limited ( KPDCL) , KNO reported that it has collected Rs 1,550 crore revenue for the financial year 2022-23 against the collection of Rs 1,385 crore in the previous financial year 2021-2022.
It is for the first time that the KPDCL has been able to recover huge amount, which according to the officials will help in reducing the deficit.
The official said that the revenue collection is increasing with each passing year as several measures have been taken to ensure that the collection is increasing to meet the needs.
“We are expecting further increase in the revenue collection for the next financial year 2023-24,” he said.
Pertinently, Kashmir Power Development Corporation Limited (KPDCL) has initiated several measures, including disconnecting services to defaulters, to reduce the deficit.
The officials had said that as far as KPDCL is concerned, it has the highest AT&C losses in the country.
The J&K government purchases electricity worth Rs 7,500 crore every year and recovers only Rs 3,500 crore, reports quoting the Chief Engineer said.

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( With inputs from : kashmirlife.net )

April 21, 2023
RTO Kashmir Realises Revenue Of More Than 300 Cr In 2022-23

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SRINAGAR: Regional Transport Office Kashmir has generated revenue of Rs 313.47 Crores in the financial year 2022-23, marking a growth of 20 percent over the previous financial year 2021-22.
This was informed in a meeting chaired by Additional Transport Commissioner, Reyaz Ahmad Sofi and was attended by RTO Kashmir and ARTOs of all 10 districts of Kashmir division.
It was informed that the total revenue includes Rs 237.45 Cr of the token tax, Rs 14.87 Cr of licenses fee, Rs 9.41 Cr passenger tax, besides Rs 1.95 Cr. compounding fee from the motorists for violation of various traffic rules.
With a special focus on the passenger tax, a significant growth of 630 percent was registered in the year 2022-23 by the department.
Additional Transport Commissioner congratulated the officers and officials of the department for crossing 300 Crore milestone and all the officials of the MVD Kashmir were asked to work with double enthusiasm for the year 2023-24 and continue this growth story.
It was revealed that during the financial year 2022-23, 64032 new vehicles were registered. Also, 2174 fresh Permits were issued and 24420 Permits renewed, 6078 fresh Fitness Certificates were issued and 30875 renewed, 35018 fresh Driving licenses were issued and 62388 renewed, besides 7912 cases of vehicle transfer cases were completed in the financial year.
It was given that 55 driving licenses, 92 Registration Certificates of vehicles, and 106 Commercial Permits were suspended or canceled over the year under review for various repeated offences under the Motor Vehicles Act.
“Collection of taxes and fees from motorists and fines for traffic offences has become smooth and easier and compliance has also improved after the introduction of online services and online payment systems. Besides, we have strengthened the patrolling on roads despite meagre human resources” said Syed Shahnawaz Bukhari, Regional Transport officer, Kashmir.

He said that the transport department is on the path of progress with transparent and seamless policies and the department would further put it on a high growth trajectory.
Additional Transport Commissioner directed the transport officials for strict enforcement of Motor Vehicle Act and Rules on road safety by checking over-speeding, rash driving, monitoring the overloading and enhancing revenue collection by preventing evasion of road tax, permit and fitness renewals, etc.
RTO Kashmir emphasized that a smooth and reliable public transport system for convenience of the general public should be the priority and stated such a move could significantly reduce the number of cars on the roads and solve the traffic issues in Srinagar city and other towns of the valley. (GNS)

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( With inputs from : kashmirlife.net )

April 6, 2023
RTO Kashmir realises revenue of more than Rs 300 Cr in 2022-23

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Srinagar, April 06: Regional Transport Office Kashmir has generated revenue of Rs 313.47 Crores in the financial year 2022-23, marking a growth of 20 percent over the previous financial year 2021-22.
This was informed in a meeting chaired by Additional Transport Commissioner, Reyaz Ahmad Sofi and was attended by RTO Kashmir and ARTOs of all 10 districts of Kashmir division.
It was informed that the total revenue includes Rs 237.45 Cr of the token tax, Rs 14.87 Cr of licenses fee, Rs 9.41 Cr passenger tax, besides Rs 1.95 Cr. compounding fee from the motorists for violation of various traffic rules.
With a special focus on the passenger tax, a significant growth of 630 percent was registered in the year 2022-23 by the department.
Additional Transport Commissioner congratulated the officers and officials of the department for crossing 300 Crore milestone and all the officials of the MVD Kashmir were asked to work with double enthusiasm for the year 2023-24 and continue this growth story.
It was revealed that during the financial year 2022-23, 64032 new vehicles were registered. Also, 2174 fresh Permits were issued and 24420 Permits renewed, 6078 fresh Fitness Certificates were issued and 30875 renewed, 35018 fresh Driving licenses were issued and 62388 renewed, besides 7912 cases of vehicle transfer cases were completed in the financial year.
It was given that 55 driving licenses, 92 Registration Certificates of vehicles, and 106 Commercial Permits were suspended or canceled over the year under review for various repeated offences under the Motor Vehicles Act.
“Collection of taxes and fees from motorists and fines for traffic offences has become smooth and easier and compliance has also improved after the introduction of online services and online payment systems. Besides, we have strengthened the patrolling on roads despite meagre human resources” said Syed Shahnawaz Bukhari, Regional Transport officer, Kashmir.

He said that the transport department is on the path of progress with transparent and seamless policies and the department would further put it on a high growth trajectory.
Additional Transport Commissioner directed the transport officials for strict enforcement of Motor Vehicle Act and Rules on road safety by checking over-speeding, rash driving, monitoring the overloading and enhancing revenue collection by preventing evasion of road tax, permit and fitness renewals, etc.
RTO Kashmir emphasized that a smooth and reliable public transport system for convenience of the general public should be the priority and stated such a move could significantly reduce the number of cars on the roads and solve the traffic issues in Srinagar city and other towns of the valley. (GNS)
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( With inputs from : roshankashmir.net )

April 6, 2023
AP: Waltair Division achieves highest ever revenue of Rs 9000 cr in 2022-23 FY

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Visakhapatnam: Waltair Division of East Coast Railway has achieved the highest ever revenue by crossing Rs 9000 crore five days ahead of the closing of the Financial Year 2022-23, the official said on Sunday.
Last year in 2021-22, the Division achieved Rs 8498.86 crore.
“The Division has created a record of 68.12 MT in loading, registering a record growth of 1.24 MT from 1 April 2022 to 25th March-2023. The Division has loaded 66.88 MT of freight in the last financial year,” AK Tripathi, Senior Divisional Commercial Manager said in a statement.
Tripathi further said that with its overall best performance, the Division has achieved this remarkable performance in just a span of 350 days as against 360 days loaded in the last fiscal’s corresponding period.
He added that the rare feat was made possible due to the outstanding performance of all the departments, despite various constraints such as natural disasters, security reasons, doubling and triple line works, reduced demand for Iron ore, and other safety-related modernisation works in the Division.
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( With inputs from www.siasat.com )

March 27, 2023
Telangana: SCR registers whooping Rs 200 Cr revenue in ticket checking

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Hyderabad: The South Central Railways registered great success after collecting a revenue of Rs 200.17 crore in ticket checking in the current fiscal year.
In a release from the SCR department here on Saturday, it praised the department for achieving a milestone in registering 28.27 lakh cases booked against irregular travel and unbooked luggage.
The previous revenue earned was Rs 154.29 crore in the year 2019-20.
The release said that different measures have been taken to improve passenger traffic by convenient ways of purchasing tickets through UTS mobile app, ATVM machines near booking counters, and displaying QR codes.
“The SCR has earned the highest ever passenger revenue of Rs 4825.72 crores besides the highest revenue in ticket checking,” the release stated.
SCR general manager Arun Kumar Jain congratulated the entire commercial wing along with officers and staff. “Ticket checking is a solid mechanism which helps in curtailing irregular travel besides improving a positive image of the Railways,” he said.
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#Telangana #SCR #registers #whooping #revenue #ticket #checking
( With inputs from www.siasat.com )

March 11, 2023