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by IANS |
New Delhi, Jan 20 (IANS) Paytm's parent company One97 Communications Limited has clocked a loss of Rs 208 crore in the third quarter of FY25, from Rs 222 crore in the same quarter last year.
In Q3 FY25, the company's revenue declined by 36 per cent year-on-year (YoY) to Rs 1,828 crore, from Rs 2,851 crore in the same period last year.
On a quarter-on-quarter basis, Paytm's revenue surged by 10 per cent, supported by a rise in gross merchandise value (GMV), good growth in subscription revenues and higher revenue from distribution of financial services.
Paytm said that "we have been able to reduce our indirect cost by 7 per cent QoQ and 23 per cent YoY to Rs 1,000 crore. Going forward, we expect calibrated growth in marketing costs and sales employee expenses as we invest in customer and merchant acquisition."
"Employee expenses for the first nine months of FY2025 dropped by Rs 451 crore YoY, surpassing the company’s annual cost-saving target of Rs 400-500 crore," the company said.
The company’s payment services revenue rose to Rs 1,059 crore, while its financial services revenue saw an impressive 34 per cent QoQ increase, reaching Rs 502 crore.
Gross Merchandise Value (GMV) processed through the platform rose 13 per cent QoQ to Rs 5 lakh crore.
Paytm’s merchant subscriber base for payment devices rose to 1.17 crore, with 5 lakh new additions during the quarter. The net payment margin reached Rs 489 crore, aided by higher subscription revenue and a stable payment processing margin.
Paytm also distributed loans worth Rs 3,831 crore during the December quarter, versus Rs 3,303 crore in Q2 FY2025. Notably, over 50 per cent of these loans were provided to repeat borrowers, reflecting a consistent demand and strong customer retention.
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