Paytm’s Strong Growth Momentum Continues, Revenue Surges 39% Yoy To ₹2,342 Cr In Q1FY24

• Reports EBITDA before ESOP cost of ₹84 Cr against ₹52 Cr in Q4FY23 (excluding UPI incentives)
• Payments revenue increased 31% YoY to ₹1,414 Cr, while revenue from financial services increases by 93% YoY to ₹522 Cr
• Merchant base expands to 3.6 Cr with a robust growth in subscriber base for devices like Soundbox and Card Machine that has more than doubled to 79 Lakh

Paytm, India’s leading payments and financial services company and the pioneer of QR and mobile payments, has announced its Q1FY24 results. Aided by an increase in merchant subscription revenue, jump in GMV, and growth in loan disbursements, the company’s growth momentum continues. Paytm reports an increase of 39% YoY in its revenue from operations at ₹2,342 Cr while the EBITDA before ESOP grew to ₹84 Cr as compared to ₹52 Cr in Q4FY23 (excluding UPI incentives). On a yearly basis, the company posted a massive improvement of ₹359 Cr in EBITDA before ESOP.

Driven by rise in contribution margin and operating leverage, EBITDA before ESOP margin also improved to 4% which is an expansion of 20% points YoY. Paytm’s payments revenue increased 31% YoY to ₹1,414 Cr while the payments profitability improved with net payment margin expanding 69% YoY to ₹648 Cr.

The company's merchant payments volume (GMV) grew 37% YoY to ₹4.05 Lakh Cr in Q1FY24. As the company expands its credit business, its revenue for financial services and others grew 93% YoY to ₹522 Cr in Q1FY24.

The number of loans distributed through Paytm’s platform grew to 1.28 Cr, an increase of 51% YoY while the value of loans distributed grew to ₹14,845 Cr, surging 167% YoY. Total number of unique borrowers who have taken a loan through its platform has increased by 49 Lakh over the last year to 1.06 Cr.

Paytm’s Commerce & Cloud revenue grew by 22% YoY to ₹405 Cr. Paytm’s contribution profit of ₹1,304 Cr represents a growth of 80% YoY while the contribution margin improved to 56% from 43% a year ago.

Paytm witnessed a robust growth in subscriber base that has nearly doubled in the last one year while its merchant base has grown to 3.6 Cr. User engagement on the platform also continues to grow with average Monthly Transacting Users (MTU) of 9.2 Cr, a hike of 23% YoY.