Paytm parent One97 Communications significantly brought down its losses in the March quarter. The company’s consolidated net loss narrowed to Rs 168 crore from Rs 761 crore a year ago, and Rs 392 crore a quarter ago.
Consolidated revenue from operations surged by nearly 52% YoY to Rs 2,335 crore.
The 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.
Including the quarter’s UPI incentive only, revenue growth in Q4 was 43% YoY and the contribution margin was 52% compared to 35% in the same period a year ago.
At the operating level, the company managed to rebound and reported a profit of Rs 101 crore compared with a loss of Rs 368 crore a year ago.
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