Paytm Records Rs 2,267 Cr Revenue in Q4 FY24

Leading payment and financial services provider Paytm disclosed a marginal 3% decline in revenue, amounting to Rs 2,267 crore for the fourth quarter of FY24. 

The company cited macroeconomic challenges, competitive dynamics, and regulatory adjustments as contributing factors to this downturn. Despite the revenue setback, Paytm underscored its continued focus on bolstering profitability and operational efficiency.

Contrastingly, revenue from operations witnessed a notable 25% year-over-year (YoY) surge to Rs 9,978 crore for the full fiscal year FY24. This growth trajectory was primarily fueled by an upswing in gross merchandise value (GMV), expanded device installations, and an enriched suite of financial services.

GMV witnessed an impressive 39% YoY escalation to Rs 18.3 lakh crore in FY24, coupled with a significant rise in merchant subscriptions to 1.07 crore by March 2024, marking a YoY increase of 39 lakh. Notably, the company reported a reduction in overall losses by Rs 354 crore YoY to Rs 1,423 crore, buoyed by sustained growth and enhanced operational efficiency.

Furthermore, Paytm highlighted robust performance in earnings before interest, taxes, depreciation, and amortization (EBITDA) before employee stock ownership plans (ESOPs), reaching Rs 559 crore. Payment services revenue for FY24 amounted to Rs 6,235 crore, driven by the widespread adoption of digital payments and an expanded merchant base.

In Q4FY24, payment services revenue witnessed a 7% YoY growth to Rs 1,568 crore, while the marketing services business reported a 14% uptick to Rs 1,738 crore. Additionally, UPI incentives for FY24 rose to Rs 288 crore, compared to Rs 182 crore in FY23.

Despite encountering temporary disruptions during the last quarter, Paytm remains optimistic about prospects. However, the company anticipates an annualized direct impact on EBITDA of Rs 500 crore in Q1 FY25 due to ongoing embargoes on products such as the Paytm wallet and FASTag, operational for most of Q4 FY24.

Disclaimer: This information is covered based on the latest research and development available. However, it may not fully reflect all current aspects of the subject matter.

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