Paytm, a leading payments and financial services company, announced its business performance for the fourth quarter ended March 2023. In the three months, Paytm surpassed its milestone of 6.8 million deployed devices for offline payments, witnessing a continued expansion of consumer base to 90 million average monthly active users.
The merchant gross merchandise value (GMV) for the said period grew remarkably to Rs 3.62 lakh crore ($44 billion), a 40% YoY increase. The company also noted a 206% YoY increase in loan disbursements to Rs 4,468 crore in March 2023 through the Paytm platform.
These strong performances, powered by a subscription as service model, were further solidified by Paytm’s profitability in the same period. The company reported an EBITDA before ESOP cost of Rs 31 crore and EBITDA before ESOP margin at 2% of revenues. It’s revenue from operations also increased 42% YoY to Rs 2,062 crore.
In the same period, Paytm also benefits from partnership with top-tier lending partners, providing users with an array of services that are now accessible on the Paytm Super App. This accelerated the process of loan distribution and saw an impressive total of 11.9 million disbursed loans, increasing by 82% YoY.
The overall growth story of Paytm benefits from the leadership of Vijay Shekhar Sharma, the founder, and CEO of the company. Since its establishment in 2010, Paytm has grown to become India’s most trusted digital platform, empowering citizens and merchants to achieve financial inclusion for all. Today, the company is expanding its horizon to include fintech, travel, entertainment and other areas.
In conclusion, the success of Paytm reflects the ability of Vijay Sharma, and his team, to develop solutions that meet the customer needs and drive long-term growth. As the company continues to expand, just like its quarter performance, it won’t stop aiming to innovate and excel using customer-first products and services.
