Paytm Q1 FY2025 revenue grows to Rs 1,502 Cr despite wider loss of Rs 840 Cr, merchant activity rebounds

One97 Communications Limited, the parent company of Paytm, has reported a widening of its loss to Rs 840 crore in the quarter ended June 30, 2024, primarily due to the continued impact of restrictions on Paytm Payments Bank Ltd. The company had posted a loss of Rs 358.4 crore in the same period a year ago.

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The consolidated revenue of Paytm declined 33.48% to Rs 1,639.1 crore during the reported quarter, from Rs 2,464.2 crore in the same period a year ago. However, the company has seen a rebound in its merchant payment metrics, including gross merchandise value (GMV), which grew 5% year-on-year to Rs 4.3 lakh crore.

The company has attributed the widening of loss and decline in revenue primarily to the disruption in business due to restrictions imposed on Paytm Payments Bank Limited (PPBL) by the Reserve Bank of India (RBI). The RBI had barred PPBL from accepting deposits, credit transactions, or top-ups in any customer accounts, wallets, and FASTags, keeping in view the interest of customers, including merchants, from March 15 onwards.