Paytm Narrows Loss, Records 39% Revenue Growth in Q1FY24

24 Jul 2023 , 02:58 PM

One 97 Communications Ltd, the parent company of leading fintech giant Paytm, announced its financial results for the first quarter ending June 30, 2023. The company reported a significant improvement in its financial performance compared to the same period last year, with its net loss narrowing and revenues experiencing robust growth.

Paytm reported revenue of Rs 2,342 Crore, representing a substantial YoY growth of 39%. The contribution profit surged 80% YoY to Rs 1,304 Crore, with an impressive margin of 56%. This indicates a 12 % point YoY expansion in profitability.

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) before ESOP (Employee Stock Ownership Plan) recorded an increase of Rs 359 Crore YoY, reaching Rs 84 Crore. The EBITDA margin stood at 4%, displaying a 20 % point YoY growth. Notably, the Q4 FY 2023 EBITDA before ESOP, on a like-for-like basis (excluding Rs 182 Crore UPI incentive), amounted to Rs 52 Crore.

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