Paytm's second quarter loss reduced and revenue increased, aided by its services business.
One97 Communications Ltd., the parent company of Paytm, narrowed its net loss to Rs 571.5 crore for the quarter ended September from Rs 645.4 crore in the preceding quarter, according to its exchange filing. That compares with the Rs 590.1 crore consensus estimate of analysts tracked by Bloomberg.
Paytm Q2 Highlights (QoQ)
Revenue rose 14% to Rs 1,914 crore, compared with a forecast of Rs 1,860.7 crore.
Operating loss fell 15% to Rs 537.8 crore.
Oustanding loans disbursed by Paytm grew to Rs 7,313 crore as of Sept. 30, up 32% quarter-on-quarter. More than half of the value of the total loans was through postpaid or 'buy now pay later' loans, which accounted for Rs 4,050 crore loans disbursed -- up 20% sequentially.
Gross merchandise value rose to Rs 3.2 lakh crore, from Rs 3 lakh crore as of June. A year ago, the GMV stood at Rs 2 lakh crore.
GMV from merchant discount rate-bearing instruments has grown 52% year-on-year. Government incentives have now also made merchant payments over UPI economically viable.
Its monthly transactions rose to 7.97 crore from July to September, compared to 7.48 crore in the preceding quarter.
Shares of One97 Communications closed 0.25% higher before the results were announced, compared to a 0.47% rise in the Nifty 50 on Monday.
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