Paytm’s revenue jumps 89% to Rs 1,680 cr in Q1

Digital financial services giant One97 Communications, that operates the brand Paytm, on Friday reported its Q1FY23 results, where it saw a massive jump in revenue from operations driven by strong monetiSation in payments, device subscriptions and accelerated adoption of high-margin businesses such as lending.

In addition to 89 per cent Y-o-Y revenue growth to Rs 1,680 crore, the company also saw EBITDA (before ESOP) reduce to Rs 275 crore, an improvement of Rs 93 crore Q-o-Q. As a result, the company’s contribution profit grew 197 per cent Y-o-Y to Rs 726 crore, leading to an increase in contribution margin to 43 per cent of revenues in comparison to 35 per cent in Q4FY22.