Sequentially, regardless that, losses have larger. In the March quarter, Paytm had reported losses of Rs 167.5 crore.
“Driven by an increase in merchant subscription revenue, jump in GMV (gross merchandise value), and growth in loan disbursements, the company’s strong growth momentum continues, Paytm said in a statement. The fintech The major said it expects a continued topline growth and operating leverage to drive profitability in the coming quarters. “The company’s indirect costs (excluding ESOP cost) have increased along expected lines (up 22% year-on-year) due to seasonal increase in marketing costs and impact of appraisals. Indirect expenses (as a % of revenues), have declined to 52%, from 60% in Q1FY23,” the corporate stated.
As adoption of virtual bills for shoppers and traders in India continues, person engagement at the platform continues to develop with reasonable per month transacting customers (MTU) of 9.2 crore, a leap of 23% year-on-year.
Shares of One 97 Communications ended at Rs 843.55 apiece at the BSE on Friday, down 0.89%.