However, the loss has widened when compared with Rs 168 crore reported in the preceding March quarter.
Revenue from operations during the quarter rose 39% to Rs 2,342 crore as against Rs 1,680 crore clocked in the previous year quarter.
The contribution profit for the first quarter is up by about 80% year-on-year to Rs 1,304 cr, with a margin of 56%.
At the operating level, EBITDA before ESOP improved to Rs 84 crore, with margins at 4%, driven by increase in contribution margin and operating leverage.
Revenue from payments business was up 31% year-on-year to Rs 1,414 crore in the June quarter. The gross merchandise value (GMV) rose 37% YoY to Rs 4.05 lakh crore.
Net payment margin for the business jumped 69% YoY to Rs 648 cr, while payment processing margin is at the high end of 7-9 bps range (excluding UPI incentive, since no incentive was recorded this quarter).Merchant paying subscription for devices has reached 79 lakh, an increase of 41 lakh YoY and 11 lakh QoQ.
Paytm said its indirect costs went up this quarter along the expected lines, up 22% YoY, due to increase in marketing costs related to IPL, impact of appraisals, and expansion of sales and technology teams.
The average monthly transacting users (MTUs) for the first quarter grew 23% YoY to 9.2 crore as adoption of mobile payments for consumers continues.
The company said it will continue to make investments in marketing to grow the user base.
The lending business continue to make giant strides with Rs 14,845 crore loans distributed through the platform in the first quarter, up 167% year-on-year.
Due to positive EBITDA before ESOP, improvement in working capital, and interest income, the company’s cash balance has increased to Rs 8,367 crore as of June-end, as against Rs 8,275 cr as of March.
On Friday, the company’s shares closed 1% lower at Rs 842.85 on NSE.
