Paytm’s revenue from operations increases 64% year-on-year

Payments bank Paytm witnessed a 64 per cent increase in revenue from operations in the July-September quarter of FY22 compared to the same period last year. Revenue from operations increased from Rs 663.9 crore in the previous year to Rs 1,086.4 crore this year.

The company said this growth in revenues from operations is because of 52 per cent growth in non-UPI payment volumes (GMV) and three-fold growth in financial services and other revenue.

Paytm’s merchant base grew to 23 million in Q2 FY 2022, up from 18.5 million in Q2 FY 2021. The number of devices deployed by the company grew to 1.3 million in Q2 FY 2022 from 0.3 million as of Q2 FY 2021.