One97 Communications, parent company of fintech platform Paytm, reported 51 per cent jump in revenue from operations at Rs 2,334 crore in Q4FY23 on an annual basis. The overall revenue in FY23 increased 61 per cent to Rs 7,990 crore. The company significantly brought down its net loss in the March quarter to Rs 168 crore from Rs 761 crore a year ago, and Rs 392 crore in Q3FY23.
The revenue growth was led by an increase in gross merchandise value (GMV), higher merchant subscription revenues, and growth of loans distributed through the company’s platform. GMV in the March quarter significantly rose 40 per cent to Rs 3.62 lakh crore YOY, while merchant subscriptions more than doubled. The payments and financial services company’s contribution profit improves to 49 per cent to Rs 3,900 crore in FY23, and contribution margin stands at 55 per cent in Q4 FY 2023.
The company reported that it has improved its payment profitability with Q4 FY23 net payment margin expanding 158 per cent to Rs 687 crore. Its net payments margin was Rs 554 crore, up 107 per cent YoY after excluding previous quarters’ UPI incentive.
