Paytm’s losses have increased in the December quarter period of the current fiscal
New Delhi:
Digital payment company One97 Communications, the parent company of Paytm, reported a consolidated loss of Rs 778.5 crore in the December 2021 quarter on Friday, mainly due to ESOP charges. However, its consolidated revenue from operations increased by about 88 percent to Rs 1,456.1 crore during the reported quarter of Rs 772 crore it posted in the December 2020 quarter.
The company recorded a loss of Rs 535.5 crore in the same period a year ago, according to the company’s financial results filed on the Bombay Stock Exchange (BSE).
Strong growth is being driven by an increase in merchant payments processed through MDR (merchant discount rate) with instruments (Paytm Wallet, Paytm bank account, other banks via internet banking, debit and credit cards), loan disbursements on the platform and recovery of trading activities from Covid impact,” Paytm said in the BSE filing.
Payment services revenue to consumers increased 60 percent YoY to Rs 406 crore, driven by growth in transaction volumes of Paytm payment instruments and the introduction of new use cases.
