paytm q3 results 2022

 

paytm bank, stock market, nse and bse, globle market
Paytm

First of all, Paytm is an Indian financial services company that provides payment and financial services to consumers, offline merchants, and online platforms. Paytm Payments serves about 350 million customers through commerce, banking, investment, and financial services.

 One97 Communication Limited is the brand owner of Paytm. Paytm is founded by Vijay Shekhar Sharma and is headquartered in Noida.

It is the country's largest digital bank working on its mission to connect the under-served and under-served countrymen under the formal banking system.

It has got approval to start Stock Broking, Demat Services, and National Pension System services.

It has got brokerage license from IRDAI. It provides insurance products to four types of consumers including two-wheeler four-wheeler health and life The company aims to simplify insurance.

Digital payments company Paytm's a loss has increased to Rs 778 crore in the third quarter, from a loss of Rs 535 crore in the previous year period. The loss for the previous quarter was Rs 473 crore.


 Consolidated revenue grew by 89 percent to Rs 1456 crore in the December 2021 quarter, from Rs 772 crore in the previous fiscal. The effect of merchant discount rate is increased in payment through Paytm Wallet, Paytm Bank Account, Net Banking, Debit, and Credit.


 Paytm said in an official announcement. Quarterly growth in online and offline merchant business was the high demand during the festival time. Paytm payment transactions increased.


 Revenue from payment services increased by 60 percent to Rs 406 crore. Tool growth with merchant discount rate, payment gateway services increased and revenue from payment services grew by 117 percent to Rs 586 crore.


 Paytm also grew through various payment channels. Financial services and other revenue increased by 201 percent to Rs 125 crore. Paytm has said that revenue from commerce and services increased by 64 percent to Rs 339 crore in the December 2021 quarter.


The company has said that there has been an increase of 37 percent year-on-year in the average monthly transaction users. Gross Merchandise Value increased 123 percent to Rs 2.5 lakh crore in the third quarter, the amount processed on the platform when a customer is making a payment to a merchant using a tool.


 The company has all the devices including Paytm Payment, Net Banking, Debit Card, Credit Card, UPI. The company has said that the number of users in Paytm has increased to more than 35 crores and the business base has increased from 2 crores to 2.5 crores.


The company has said that the loss at the first level before Ebitda's cost has gone up to 393. There was a loss of 488 crores and a loss of 426 crores in the year-ago quarter. Expenditure increased to Rs 2317 crore in the third quarter of the financial year. 1348 crore in the last financial year.

Post a Comment

Previous Post Next Post