Digital payments platform Paytm, which was recently listed on the stock exchange, has announced that its revenue from operations grew 64% year-on-year to Rs 1,090 crore for the quarter ended September 2021, driven by 52% growth in non-UPI payment volumes (GMV).
In its regulatory filings at BSE, the Noida-based company reported a net loss of Rs 474 crore as compared with Rs 437 crore in the same period a year earlier. Expenses jumped to nearly Rs 1,600 crore from Rs 1,170 crore a year ago.
Paytm’s revenue from payments and financial services grew 69% to Rs 842.6 crore while commerce and cloud services revenue grew by 47% to Rs 243.8 crore.
The company’s GMV for Q2 FY 2022 was Rs 195,600 crore, up by 107% Y-o-Y and the growth momentum continued in October 2021, where the GMV at Rs 83,200 crore was up 131% Y-o-Y.
Paytm had made its debut on the stock exchange on Nov 18 and its shares are currently trading at Rs 1,765.6 apiece, 18% down from its IPO price of Rs 2,150 per share.
During the last fiscal year i.e. FY21, Paytm’s consolidated operational revenue dropped by 14.6% from Rs 3,280.84 crore in FY20 to Rs 2,802.41 crore in FY21. Even with the reduction in collections, the company had managed to curb its losses by 42% from Rs 2,932.4 crore in FY20 to Rs 1,710 crore in FY21.
Paytm, which was listed in BSE on November 18 at Rs 1,929 against the issue price of Rs 2,150, is currently trading at Rs 1,765.