Narsee monjee college, College in Mumbai, India

New Delhi, May 5 Leading payments and financial services company Paytm on Friday announced an impressive growth in its fourth quarter of FY23, ending the financial year on a high note.In Q4 FY23, the company's revenue surged by 51 per cent (year-on-year) to reach Rs 2,334 crore, while the full-year revenue increased by 61 per cent YoY to Rs 7,990 crore, making it the highest earning new-age company.In Q4, Paytm further grew its operating profit by Rs 234 crore. In Q4, Paytm's EBITDA before ESOP costs, excluding UPI incentives, rose to Rs 101 crore, a significant improvement from the previous fiscal's Q4 figure of (Rs 368 crore).This was achieved by the increased pace of monetisation, better cost management, and higher operating leverage, said the company.In the fourth quarter, Paytm's payments revenue grew by 41 per cent YoY to Rs 1,467 crore.According to the company, including only current quarter's UPI incentive only, net payments margin for Q4 FY 2023 was Rs 554 crore, up 107 per cent YoY. In the current fiscal year, net payments margin increased 2.9x to Rs 1,970 crore, demonstrating the profitability of the payment business, despite the higher share of UPI.Excluding prior quarters' UPI incentive, payments revenue grew 28 per cent YoY. For FY23, led by increase in payment volume, and higher subscription revenue from device merchants, the payment revenue increased 44 per cent to Rs 4,928 crore in FY23.Paytm significantly increased its loan distribution business with revenue from financial services and others growing 183 per cent YoY to Rs 475 crore in Q4 FY 2023 and by 253 per cent in FY 2023 to Rs 1,540 crore. This was largely on account of a 364 per cent increase in the value of loans disbursed through its platform, said the company.The company continues to monetise Paytm app traffic in its commerce and cloud segment by providing marketing services to its merchants. In Q4 FY 2023, Paytm's commerce and cloud revenue grew by 23 per cent YoY to Rs 392 crore.In FY 2023, commerce and cloud revenue grew by 38 per cent to Rs 1,520 crore.Paytm's contribution margin improved from 30 per cent in FY 2022 to 49 per cent in FY 2023, due to improved payments profitability, and growth in high margin loan distribution business.The company's user engagement on the platform continues to grow, with average Monthly Transacting Users (MTU) for Q4FY23 increasing by 27 per cent YoY to 90 million, indicating a growing adoption of digital payments by consumers and merchants in India.The company's Gross Merchandise Value (GMV), which stood at Rs 3.62 lakh crore for Q4 FY 2023, saw an increase of 40 per cent YoY.The company's loan distribution business, in partnership with marquee lenders, has continued to scale, with the total number of loans growing to 1.2 crore in Q4FY23, up 82 per cent YoY, and the total value of loans amounting to Rs 12,554 crore, registering a growth of 253 per cent YoY.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Narsee Monjee CollegeFOLLOW

Narsee monjee college, Latest News

Ahmedabad (Gujarat)[India], May 5 : Defending champions Gokulam Kerala FC once again look to bag three points as they ... ...

New Delhi [India], May 5 : During the first quarter of calendar year (CY) 2023, India saw an 18 ... ...

Amritsar (Punjab) [India], May 5 : The World Sikh Chamber of Commerce (WSCC) recently hosted an event to recognise ... ...

Mumbai (Maharashtra) [India], May 5 : Actor Kartik Aaryan on Friday recalled the times when his mother Mala Tiwari ... ...

Mumbai (Maharashtra) [India], May 5 : Actor Emraan Hashmi on Friday dropped a family picture from their golf nights. ... ...

Mumbai (Maharashtra) [India], May 5 : Makers of the upcoming action-entertainer film 'Custody' on Friday unveiled the official trailer. ... ...

Mumbai (Maharashtra) [India], May 5 : Actor Sushmita Sen is currently busy shooting for her upcoming action thriller web ... ...

New Delhi, May 5 Leading payments and financial services company Paytm on Friday announced an impressive growth in ... ...