Paytm Q4 Results 2024: Loss widens to Rs 550 crore; revenue down by 2.8%

Paytm Q4 Results 2024: Fintech firm One 97 Communications Ltd (Paytm) on Wednesday announced its quarterly earnings for January-March in which the company said that its consolidated net loss widened to Rs 549.60 crore from Rs 219.80 crore in the December quarter. The company had posted a loss of Rs 167.5 crore in the same period a year ago.

The revenue from operations of Paytm declined 2.8 per cent to Rs 2,267.1 crore during the reported quarter from Rs 2,464.6 crore in the corresponding quarter of the financial year 2023.

However, the company's loss narrowed to Rs 1,422.4 crore for the year ended March 31, 2024. The company had recorded a loss of Rs 1,776.5 crore in FY23.

The annual revenue of Paytm increased by about 25 per cent to Rs 9,978 crore for FY24 from Rs 7,990.3 crore in FY23.

The Reserve Bank of India barred Paytm Payments Bank Limited (PPBL) from accepting deposits, credit transactions or top-ups in any customer accounts, wallets, and FASTags, keeping in view the interest of customers, including merchants from March 15 onwards.

Paytm had estimated a Rs 300-500 crore loss due to the RBI's restriction on PPBL.

Key Financial Highlights for FY 2024:

-  Paytm reported revenue of Rs 9,978 crore, 25 per cent growth
-  Contribution profit up 42 per cent to Rs 5,538 crore (margin of 56 per cent, up 7 percentage point)
-  EBITDA before ESOP of Rs 559 crore (up Rs 734 crore), EBITDA margin at 6 per cent (up 8 percentage point)

Payment Business:

- Revenue from Payment services up 26 per cent to Rs 6,235 crore
-  Net payment margin was up 50 per cent to Rs 2,955 crore; GMV up 39 per cent to Rs 18.3 Lakh crore
-  Merchant paying subscription for devices has reached 1.07 crore as of March 2024, an increase of 39 Lakh

Financial Services Business:

- Revenue from financial services and others up 30 per cent to Rs 2,004 crore
-  Value of loans distributed was up 48 per cent to Rs 52,390 crore

Paytm share price

Meanwhile, shares of Paytm slipped on BSE on Wednesday (May 22, 2024) after the fintech firm reported that its losses widened in the fourth quarter (January-March quarter).

The stock that closed at Rs 351.75 on Tuesday slipped by over two per cent to Wednesday's low of Rs 344.65 after starting the session at Rs 356.90.

Paytm shares were trading lower by 1.68 per cent, or Rs 5.90, at Rs 345.85 at 9:54 am on Wednesday.

With PTI Inputs