In Short:
One 97 Communications Ltd, the owner of Paytm, reported a net loss of ₹550.5 crore for the quarter ended March 31, 2024, wider than the previous quarter. Revenue for the quarter was ₹2,267.1 crore lower than the previous quarter. However, for the full fiscal year 2023-24, net loss narrowed and revenue surged by 25%. Paytm marked its first full year of profitability since the IPO, with increased contribution profit and revenue from payment services.
Paytm Reports Q4 FY24 Results: A Closer Look
Hey there, folks! Big news coming in from One 97 Communications Ltd, the proud owner of everyone’s favorite brand Paytm. They just announced their financial results for the quarter ended March 31, 2024, and boy, are they making headlines!
Net Loss Situation
So, here’s the deal – Paytm reported a consolidated net loss of ₹550.5 crore for the last quarter. That’s a bit of a jump from the ₹167.5 crore loss they had in the same quarter last year. And compared to the December 2023 quarter, where they reported a loss of ₹221.7 crore, things are looking a tad bit wider this time around.
Revenue Dips
On the revenue front, things were not as rosy either. Consolidated revenue from operations for the quarter was ₹2,267.1 crore, lower than the ₹2,850 crore they made in the previous quarter. But hey, they’re still going strong!
Positive Trends for the Year
Despite the quarterly ups and downs, the full fiscal year 2023-24 saw some positive trends for Paytm. The consolidated net loss actually narrowed down to ₹1,422.4 crore, compared to ₹1,776.5 crore in the previous fiscal year. And their revenue from operations surged by a whopping 25 per cent to ₹9,977.8 crore!
Growth Indicators
Paytm had a stellar year, marked by their first full year of profitability since the IPO. Their EBITDA before ESOP shot up to ₹559 crore, a significant increase from the last fiscal. The contribution profit also saw a healthy 42 per cent growth, thanks to their focus on payment services and financial offerings.
With their Gross Merchandise Value (GMV) up by 39 per cent and revenue from payment services growing by 26 per cent year-on-year, it’s clear that Paytm is on the path to success. And let’s not forget the 1.07 crore merchants who are now paying for device subscriptions, showing a 58 per cent increase from last year!
So, all in all, while the quarterly figures might show a bit of a bump in the road, Paytm’s overall trajectory seems to be pointing towards a bright future ahead. Keep an eye on these guys, they’re definitely onto something big!
