Digital payments and financial services firm One97 Communications, which operates under Paytm brand, on Friday reported widening of consolidated loss to Rs 778.5 crore in the December 2021 quarter.
Paytm had registered a loss of Rs 535.5 crore in the same period a year ago, according to late night BSE filing by the company.
Its consolidated revenue from operations, however, increased by about 88 per cent to Rs 1,456 crore during the reported quarter from Rs 772 crore it posted in the December 2020 quarter.
"Our consolidated revenue from operations grew by 89 per cent year-on-year and 34 per cent quarter-on-quarter to Rs 1,456 crore in the third quarter of financial year 2022 driven by growth in merchant payments through MDR bearing instruments, new device subscriptions and loan disbursements," Paytm said in the filing.
The payment services of Paytm to consumers grew by 60 per cent to Rs 406 crore from Rs 254 crore and payments services to merchants more than doubled to Rs 586 crore from Rs 269 crore in the quarter under review.
Paytm loan disbursal increased multifold to 44.1 lakh loans amounting to Rs 2,181 crore in the December 2021 quarter, compared to 8.8 lakh loans worth Rs 468 crore in the corresponding month a year ago.