The findings were released after the market closed. On the BSE, One 97 Communications Ltd shares closed at Rs 691.40, up Rs 20.55, or 3.06 percent.
One97 Communications Ltd, which owns Paytm, declared a net loss of Rs 168.4 crore for the fourth quarter that ended March 31, 2023 on Friday. The business reported a net loss of Rs 761.4 crore in the same period previous year.
Consolidated revenue from operations stood at Rs 2,334.5 crore in the March quarter, up 51.5 percent from Rs 1,540.9 crore in the previous fiscal period, driven by an increase in GMV, higher merchant subscription revenues, and growth in loans distributed through our platform.
During the fourth quarter, loans of Rs 12,554 crore were dispersed on the Paytm platform across our three product offerings (Paytm Postpaid, Personal Loans, and Merchant Loans). 95 lakh borrowers had taken out loans using our platform as of March 2023.
Average Monthly Transacting Users (MTU) increased by 27% year on year to 9 crore in the fourth quarter, as consumer and merchant adoption of mobile payments in India continues.
Subscription services for payment devices like Soundbox and POS machines are also popular, with 68 lakh merchants paying us subscriptions as of March 2023, more than tripling from 29 lakh in March 2022.
GMV
The firm continues to see consistent growth in Gross Merchandise Value (GMV), which amounted at Rs 3.62 lakh crore in Q4 FY23, up 40% year on year.
Including the current quarter’s UPI incentive, revenue growth in Q4 FY23 was 43 percent year on year, and the contribution margin was 52 percent, compared to 35 percent in Q4 FY22. The fourth quarter EBITDA before ESOP was Rs 101 crore, an increase of Rs 469 crore year on year, excluding the Rs 133 crore UPI incentive applicable to 9M FY 23.
The company’s cash holdings are Rs 8,275 crore as of the March 2023 quarter, down from Rs 9,271 crore in March 2022. The business repurchased 1.56 crore shares for Rs 850 crore in cash, suggesting an average purchase price of Rs 545 per share.
Loans The number of postpaid loans distributed increased by 86 percent year on year in Q4 FY23, while the value of postpaid loans increased by 211 percent. The total number of unique users has surpassed 86 lakh.
In Q4 FY23, the number of personal loans distributed increased 193 percent year on year, while the value of personal loans increased 328 percent year on year to Rs 3,447 crore. The average ticket price is Rs 130,000, and
Cross-sell from Postpaid continues to gain pace, with over 40% of personal loans provided to current Paytm Postpaid consumers in Q4 FY 2023. Personal loans have a penetration rate of 0.9 percent of MTU.
“We have already onboarded 55 lakh customers since the launch of our UPI Lite platform in February 2023.” According to NPCI’s wallet interoperability requirements, Full KYC Paytm Wallet will be globally accepted on all UPI QRs and online retailers.
“In the near future, we believe India has the potential for at least 10 crore merchants and more than 50 crore payment users.” “With nearly 9,000 new members, our sales team now has over 28,000 members and serves nearly 550 towns and cities,” the business claimed.
“We have already onboarded 55 lakh customers since the launch of our UPI Lite platform in February 2023.” The NPCI’s wallet interoperability rules will make Full KYC Paytm Wallet globally recognized on all platforms.
