One97 Communications, which owns the Paytm brand, has reported a consolidated net loss of Rs 168 crore for the quarter ended March 31, 2023.

This loss is significantly less than the net loss of ₹761 in the same quarter last year and the net loss of ₹392 crore in the last quarter of December.

  • Read: Paytm has higher penetration in digital payments: report

For the entire fiscal year 2022-23, Paytm’s consolidated net loss was ₹1,776 crore, substantially lower than the net loss of ₹2,396 crore in the previous fiscal year.

Consolidated revenue from operations for the quarter under review rose 51 percent year-on-year to ₹2,334 crore. Revenue growth was led by an increase in gross merchandise value (GMV), higher merchant subscription revenue and growth in loans distributed through the company’s platform.

  • Read: Paytm launches 4G-enabled Made-in-India Soundbox 3.0

Gross Merchandise Value (GMV) for the quarter rose 40% yoy to ₹3.62 lakh crore (₹3.46 lakh crore)

The average monthly transaction user (MTU) for the fourth quarter grew 27 percent year-over-year to Rs 9 crore due to continued adoption of mobile payments by consumers and merchants in India.

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