Team Blitz India
NEW DELHI: India’s leading payments and financial services company Paytm has announced profit for third straight quarter driven by increase in merchants subscription revenues, merchant payment volumes and loan disbursals.
In Q1FY24, the company’s revenue surged by 39 per cent year-on-year to Rs 2,342 crore while EBITDA before ESOP cost grew to Rs 84 crore as compared to Rs 52 crore in last quarter (excluding the UPI incentive).
On a yearly basis, the company posted a massive improvement of Rs 359 crore in EBITDA before ESOP costs.
Paytm’s payment revenue has increased 31 per cent YoY to Rs 1,414 crore. This comes as the company’s net processing margin went up 69 per cent YoY on year to Rs 648 crore.
