Tech Earnings Wrap : Zomato, Paytm, Nykaa hit record revenues

Newly-listed tech startups such as Zomato, Paytm, Nykaa and MapMyIndia recorded solid year-on-year (Y-o-Y) revenue growth during the first quarter (Q1) of the ongoing financial year (FY23) owing to a rise in gross order value (GOV), strong monetisation in payments, a surge in gross merchandise value (GMV) and unique new-age deep-tech digital products, respectively.

Of the four, Paytm – driven by an increase in device subscriptions and accelerated adoption of high-margin businesses such as lending – clocked the highest Y-o-Y revenue growth at 88.5% as the figure rose to Rs 1,679.6 crore compared with the year-ago period.