- Reports 61% YoY increase in FY23 revenue from operations to ₹7,990 Cr
- Posts EBITDA before ESOP costs, excluding UPI incentives, to ₹101 Cr
- Reports 51 percent jump in revenue from operations at ₹2,334 crore in Q4FY23 on an annual basis
NE BUSINESS BUREAU
AHMEDABAD, MAY 5
One97 Communications, parent company of fintech platform Paytm, reported 51 percent jump in revenue from operations at ₹2,334 crore in Q4FY23 on an annual basis. The overall revenue in FY23 increased 61 percent to ₹7,990 crore, becoming India’s highest earning new-age company.
The company said its revenue growth was led by an increase in gross merchandise value (GMV), higher merchant subscription revenues, and growth of loans distributed through the company’s platform.
Paytm continues to see sharp and consistent improvement in profitability due to strong revenue growth, increasing contribution margin and operating leverage. The company has further expanded its EBITDA before ESOP costs, excluding UPI incentives, to ₹101 Cr versus ₹(368) Cr in Q4FY22. For FY23, EBITDA before ESOP cost stood ₹(176) Cr, a significant improvement of ₹1,342 Cr. This was achieved by the increased pace of monetization, better cost management, and higher operating leverage.
Paytm’s revenue from payment services was ₹1,467 Cr, revenue from Financial Services stood at ₹475 Cr, and revenue from Commerce and Cloud came at ₹392 Cr. For FY 2023, payment revenue increased 44% to ₹4,928 Cr, led by increase in payment volume, and higher subscription revenue from device merchants.
Driven by continued improvement in payments profitability and increasing mix of high margin businesses like credit distribution, Paytm’s contribution margin stood at 55%.
