NEW DELHI: One 97 Communications, which runs fintech main Paytm, has reported narrowing of consolidated internet losses to Rs 291.7 crore within the September quarter in comparison with internet losses of Rs 571.5 crore within the 12 months in the past quarter.
Revenue from operations elevated to Rs 2,518.6 crore throughout the quarter from Rs 1,914 crore posted within the 12 months in the past quarter, recording an increase of practically 32%. The development in revenue was helped by improve in GMV (gross merchandise worth), service provider subscription revenues and development of loans distributed by means of the platform. “For Q2FY2024, we continued our momentum…despite some of the revenues getting pushed to Q3. In this financial year, online sales for the festive season will be captured in Q3, whereas in the previous financial year, it was largely in Q2,” the corporate stated in a press release on Friday.
With extra folks taking to cellular funds, Paytm’s common month-to-month transacting customers throughout the quarter grew by 19% y-o-y to 9.5 crore. (*2*) the agency stated. tnn
Revenue from operations elevated to Rs 2,518.6 crore throughout the quarter from Rs 1,914 crore posted within the 12 months in the past quarter, recording an increase of practically 32%. The development in revenue was helped by improve in GMV (gross merchandise worth), service provider subscription revenues and development of loans distributed by means of the platform. “For Q2FY2024, we continued our momentum…despite some of the revenues getting pushed to Q3. In this financial year, online sales for the festive season will be captured in Q3, whereas in the previous financial year, it was largely in Q2,” the corporate stated in a press release on Friday.
With extra folks taking to cellular funds, Paytm’s common month-to-month transacting customers throughout the quarter grew by 19% y-o-y to 9.5 crore. (*2*) the agency stated. tnn
