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NEW DELHI: Digital monetary companies agency One97 Communications, which operates beneath the Paytm model, on Friday reported widening of its consolidated loss to Rs 761.4 crore for the quarter ended March 2022 on account of rise in fee processing costs and workers profit bills.
The corporate had posted a lack of Rs 441.8 crore in the identical interval a 12 months in the past.
The losses, nevertheless, narrowed on a sequential foundation. Its consolidated loss stood at Rs 778.4 crore within the quarter ended December 2021.
“As introduced in April 2022, we imagine we’ll obtain working breakeven (i.e EBITDA earlier than ESOP value) by September 2023. This will probably be pushed by continued income progress, together with moderation in prices as working leverage kicks in,” Paytm stated.
“The corporate’s EBITDA loss (earlier than ESOP) for FY’22 noticed an enchancment of 8 per cent year-on-year to Rs 1,518 crore from Rs 1,655 crore the earlier 12 months. As well as, the corporate had Rs 809 crore of non-cash ESOP bills,” it added.
The income from operations of One97 Communications (OCL), nevertheless, jumped by about 89 per cent to Rs 1,540.9 crore in the course of the quarter from Rs 815.3 crore within the year-ago interval.
Bills on workers greater than doubled to Rs 863.4 crore from Rs 347.8 crore within the March 2021 quarter.
The fee processing costs elevated by 52 per cent to Rs 774.2 crore within the March 2022 quarter from Rs 508.7 crore a 12 months in the past.
Advertising bills greater than doubled to Rs 248.9 crore from Rs 100.1 crore.
For the 12 months ended March 31, 2022, OCL’s loss widened to Rs 2,396.4 crore from Rs 1,701 crore in 2020-21.
Nonetheless, annual income from operations jumped 77.49 per cent to Rs 4,974.2 crore in 2021-22 from Rs 2,802.4 crore earlier.
“We’ve leveraged our distribution and wealthy insights to supply monetary merchandise to our shoppers and retailers, in partnership with monetary establishments.
“One of many highlights of the quarter has been the fast progress of our lending merchandise which supplies us with a pretty revenue pool. In April 2022, we reached an annualised run price of roughly Rs 20,000 crore of disbursement by way of our platform,” OCL stated in an announcement.
Its common month-to-month transacting consumer (MTU) base elevated by 41 per cent year-on-year to over 7 crore for the quarter, whereas its service provider base grew to 2.67 crore on the finish of 2021-22.
“We proceed to witness a large progress in our GMV, which stood at Rs 2.6 lakh crore for the quarter, a progress of 104 per cent Y-o-Y,” OCL stated.
Its full-year gross merchandise worth (GMV) greater than doubled to Rs 8.5 lakh crore in 2021-22 from Rs 4 lakh crore in FY 2021, the assertion stated.
The corporate had posted a lack of Rs 441.8 crore in the identical interval a 12 months in the past.
The losses, nevertheless, narrowed on a sequential foundation. Its consolidated loss stood at Rs 778.4 crore within the quarter ended December 2021.
“As introduced in April 2022, we imagine we’ll obtain working breakeven (i.e EBITDA earlier than ESOP value) by September 2023. This will probably be pushed by continued income progress, together with moderation in prices as working leverage kicks in,” Paytm stated.
“The corporate’s EBITDA loss (earlier than ESOP) for FY’22 noticed an enchancment of 8 per cent year-on-year to Rs 1,518 crore from Rs 1,655 crore the earlier 12 months. As well as, the corporate had Rs 809 crore of non-cash ESOP bills,” it added.
The income from operations of One97 Communications (OCL), nevertheless, jumped by about 89 per cent to Rs 1,540.9 crore in the course of the quarter from Rs 815.3 crore within the year-ago interval.
Bills on workers greater than doubled to Rs 863.4 crore from Rs 347.8 crore within the March 2021 quarter.
The fee processing costs elevated by 52 per cent to Rs 774.2 crore within the March 2022 quarter from Rs 508.7 crore a 12 months in the past.
Advertising bills greater than doubled to Rs 248.9 crore from Rs 100.1 crore.
For the 12 months ended March 31, 2022, OCL’s loss widened to Rs 2,396.4 crore from Rs 1,701 crore in 2020-21.
Nonetheless, annual income from operations jumped 77.49 per cent to Rs 4,974.2 crore in 2021-22 from Rs 2,802.4 crore earlier.
“We’ve leveraged our distribution and wealthy insights to supply monetary merchandise to our shoppers and retailers, in partnership with monetary establishments.
“One of many highlights of the quarter has been the fast progress of our lending merchandise which supplies us with a pretty revenue pool. In April 2022, we reached an annualised run price of roughly Rs 20,000 crore of disbursement by way of our platform,” OCL stated in an announcement.
Its common month-to-month transacting consumer (MTU) base elevated by 41 per cent year-on-year to over 7 crore for the quarter, whereas its service provider base grew to 2.67 crore on the finish of 2021-22.
“We proceed to witness a large progress in our GMV, which stood at Rs 2.6 lakh crore for the quarter, a progress of 104 per cent Y-o-Y,” OCL stated.
Its full-year gross merchandise worth (GMV) greater than doubled to Rs 8.5 lakh crore in 2021-22 from Rs 4 lakh crore in FY 2021, the assertion stated.
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