Paytm Q3 net loss narrows to ₹208 cr, revenues fall 36%

ONE97 COMMUNICATIONS, the parent company of Paytm, on Monday said it narrowed losses for the October-December quarter to ₹208.3 crore, from a loss of ₹219.8 crore in the year-ago period.

- Anupreksha Jain

The fintech's consolidated revenues for the latest quarter fell 36% YoY to ₹1,827.8 crore, but rose 10% sequentially. The management attributed the rise to an increase in the gross merchandise value (GMV), a healthy growth in subscription revenues and a rise in revenues from distribution of financial services.

Of total revenues of ₹1,828 crore, ₹1,003 crore came from the payments business, which went up 6% sequentially. Around ₹502 crore was contributed by financial services (up 34%), driven by a bigger share of merchant loans and higher trail revenue from the default loss guarantee portfolio, the management said.