NEW DELHI: Digital payments and financial services company One97 Communications, which operates under the Paytm brand, on Friday reported widening consolidated loss to Rs 778.5 crore in the December 2021 quarter.
Paytm had recorded a loss of Rs 535.5 crore during the same period a year ago, according to the ESB filing late overnight by the company.
However, its consolidated operating income increased by around 88% to Rs 1,456 crore in the current quarter from Rs 772 crore in the December 2020 quarter.
“Our consolidated operating income increased 89% year-on-year and 34% quarter-on-quarter to Rs 1,456 crore in the third quarter of FY2022, driven by growth in merchant payments through MDR bearer instruments, new device subscriptions and loan disbursements,” Paytm said in the filing.
Paytm’s consumer payment services increased by 60% from Rs 254 crore to Rs 406 crore and merchant payment services more than doubled to Rs 586 crore from Rs 269 crore during the quarter under review.
Disbursement of Paytm loans increased several fold to 44.1 lakh loans worth Rs 2,181 crore in the December 2021 quarter, from 8.8 lakh loans worth Rs 468 crore in the corresponding month there a year ago.
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