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Paytm FY22 results: Revenue jumps 77% to Rs 4,974 cr, losses reduce 8% to Rs 1,518 cr
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SME Times News Bureau | 21 May, 2022
One97 Communications Limited (OCL) that owns the brand Paytm, Indias
leading mobile payments and financial services company, announced its
quarter-ending March 2022 and full financial year FY22 results. The
company saw its revenue jump by 77 per cent in FY22 to Rs 4,974 crore
from Rs 2,802 crore the previous year.
In Q4 alone, the
company's revenue grew 89% on a year-on-year basis to Rs 1,541 crore,
while EBITDA (before ESOPs) for the quarter improved 12 per cent
year-on-year.
The growth in revenue was led by the increase in
consumer and merchant payments and disbursements of loans through its
partners on Paytm.
The company's EBITDA loss (before ESOP) for
FY22 saw an improvement of 8 per cent year-on-year to Rs 1,518 crore
from Rs 1,655 crore the previous year. In addition, the company had Rs
809 crore of non-cash ESOP expenses.
Paytm has reduced EBITDA
(before ESOP cost) loss despite making investments in user growth,
merchant device deployment and technology. The company's cost structures
in Q4 FY 2022 are largely sufficient to support its growth plans in FY
2023. As a result, the company believes it will show accelerated
reduction in EBITDA losses and is well on track to achieve profitability
(before ESOP) by September 2023 quarter.
Paytm has a strong
two-sided ecosystem of consumers and merchants, where it is seeing the
monetization strategy kick in to yield results. On the consumer payments
side, the company is recording increasing usage of the Paytm app and
Paytm Payment instruments. On the merchant payments side, the company
serves the entire base of merchants through (i) QR for payments
(typically free), (ii) soundboxes (which generate subscription
revenues), (iii) card machines (which generate subscription and MDR
revenues), and (iv) Payment Gateway for online merchants (which
generates MDR revenues and platform fees). Leveraging this distribution
and rich insights, Paytm offers financial products to its consumers and
merchants, in partnership with financial institutions.
Increased
consumer engagement and merchant base leads to higher revenue from
Payment services. The company has recorded a jump in its average monthly
transacting users in FY22 to 60.8 million, the average for the last
quarter further increased to 70.9 million. Paytm's merchant base has
also grown to now have 26.7 million merchant partners, with 2.9 million
devices deployed as of FY22.
The increased consumer engagement
and merchant base has also led to increased revenue from Payment
Services (both to consumers and merchants). Paytm's Revenue from Payment
Services to Consumers was up 58 per cent to Rs 1,529 crore in FY 2022
from Rs 969 Cr for the FY 2021. For the full year, Revenue from Payment
Services to Merchants was up 87 per cent to Rs 1,892 crore in FY 2022
from Rs 1,012 crore for FY 2021.
One of the highlights of Q4FY22
and FY22 has been the rapid scale-up of Paytm's loan disbursement
business, where it offers Paytm Postpaid (Buy Now, Pay Later), personal
loans and merchant loans. In April 2022, the company reached an
annualised run rate of approximately Rs 20,000 crore of disbursement
through its platform.
For the full year, the number of loans
disbursed through the Paytm platform has grown 478 per cent year-on-year
to 15.2 million in FY 2022 from 2.6 million in FY 2021. The value of
loans disbursed has grown 441 per cent year-on-year from Rs 1,409 crore
in FY 2021 to Rs 7,623 crore in FY 2022.
The number of Postpaid
Loans disbursed grew 373 per cent year-on-year in Q4 FY 2022, while the
value of Postpaid Loans grew 425 per cent year-on-year, thus
highlighting increased usage by customers.
Personal Loans
disbursed through partners on Paytm grew 948 per cent year-on-year in Q4
FY 2022, while the value of Personal Loans grew 1,082 per cent
year-on-year. The number of Merchant Loans disbursed grew 123 per cent
year-on-year in Q4 FY 2022, while the value of Merchant Loans grew 178
per cent year-on-year. The average ticket size has also increased in
FY22, with personal loans ranging from Rs 85,000 to Rs 95,000 and
merchant loans ranging from Rs 1,30,000 to Rs 1,50,000.
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As on 13 Aug, 2022 |
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