Paytm Q4FY23 net loss narrows by 78% yoy as company turns EBITDA positive

Paytm reported 51.5% growth in total revenues for the March 2023 quarter on consolidated basis at Rs2,335cr. On a sequential basis, the revenues were up by 13.2%. For Q4FY23, the EBITDA came in at a positive of Rs234 crore improving by nearly Rs602 crore on a yoy basis. This is EBITDA before considering ESOP effect. For FY23, the EBITDA stood at Rs-176 crore compared to an EBITDA loss of Rs-1,518 crore in FY22 and an EBITDA loss of Rs-1,655 crore in FY21. 

The average merchandise trade unit (MTI) improved yoy from 7.1 crore units to 9 crore units. During the same period, the gross merchandise value (GMV) improved from Rs2.59 trillion to Rs3.62 trillion. The merchant subscriptions during this period improved from Rs29 lakhs to Rs68 lakhs yoy while the number of loans distributed nearly doubled from 65 lakh loans to 119 lakh loans. Even the value of loans distributed grew more than 3-fold.

Financial highlights for Mar-23 compared yoy and sequentially

 Paytm    

Rs in Crore

Mar-23

Mar-22

YOY

Dec-22

QOQ

Total Income (Rs cr)

₹ 2,335

₹ 1,541

51.50%

₹ 2,062

13.20%

Net Profit (Rs cr)

₹ -168

₹ -761

-77.88%

₹ -392

-57.04%

 

 

 

 

 

 

Diluted EPS (Rs)

₹ -3.00

₹ -12.00

 

₹ -6.00

 

Net Margins

-7.21%

-49.41%

 

-19.01%

 

 

For the quarter, the contribution profit, including the UPI incentive, works out to Rs1,283 crore, up 138% on yoy basis. Payment services continued to be a major chunk of the revenues at Rs1,467 crore in Q4FY23 and growing 41% on yoy basis. The other big vertical of financial services saw revenues grow from Rs168 crore to Rs475 crore on yoy basis. The third major vertical of commerce and cloud services generated Q4 revenues of Rs392 crore.

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