One97 Communications Limited, the parent firm of Paytm, shared its earnings report for Q2FY23. The digital fund agency posted 76 per cent YoY growth in earnings to Rs 1,914 crore, while EBITDA improved by Rs 259 crore year-on-year. Also read- ED raids Paytm, Razorpay, Cashfree premises in Chinese mortgage apps fraud case
The company saw a steady growth in revenue contributing 223 per cent year-on-year and 16 per cent QoQ to Rs 843 crore. Some of the elements that have helped increase Paytm’s contribution margin are growth in the mix of high-margin companies such as mortgage distributions. Indirect prices also touched Rs 1,010 crore in the quarter as against Rs 1,001 crore in the previous quarter. Also Read – Paytm Shares Fall Over 6 Pcs When Vijay Shekhar Sharma Re-appointed As CEO
In addition, its enterprise earnings grew 56 per cent YoY and 9 pc QoQ in Q2FY23. The monetary companies agency has claimed that it is gaining strong traction across all of its companies, keeping up with the momentum seen in the first quarter of FY13. Also read- Paytm revenue up 89 per cent to Rs 1,680 crore in Q1 FY23
Revenue from cost companies to customers also increased to Rs 549 crore, which is a growth of 55 per cent year-on-year. Payment services to retailers also confirmed a growth of 56 per cent year-on-year, reaching Rs 634 crore. All this was achieved without any UPI incentives during the quarter.
In addition, Paytm’s internet cost margin is Rs 443 crore, 15 per cent QQ growth and 428 per cent year-on-year growth.
In the sector of lending model from venture to monetary companies, it stood at Rs 349, 293 pc YoY and 29 pc QoQ growth. The company’s financial services income now accounts for 18 percent of total revenue, compared to 8 percent in the second quarter of FY22.
In its financial business venture, it disbursed 9.2 million loans worth Rs 7,313 crore, registering 482 per cent YoY and 32 per cent QoQ growth. The firm expects “a long growth runway ahead” in its mortgage disbursement companies with high demand for all its wares like Paytm postpaid, personal loans and merchant loans.
For postpaid disbursements, it was Rs 4,050 crore, which is 449 pc YoY and 20 pc QoQ growth. It also increased its service provider community to fifteen million. Personal loan and merchant loan volumes reached Rs 2,055 crore and Rs 1,208 crore respectively.
Lastly, the company also reported 55 per cent YoY and 15 per cent QoQ growth in commerce and cloud revenue at Rs 377 crore.
