Paytm’s FY24 Revenue jumps 25% YoY to ₹9,978 Cr, EBITDA before ESOP at ₹559 Cr

 

 

Paytm, India’s leading payments and financial services distribution company, has announced Q4FY24 and FY24 results. The company’s core business saw a 25% YoY increase in revenue from operations to ₹9,978 crore in FY24. The growth was driven by accelerated GMV, strong device additions, and the expansion of its financial services distribution business.

 

The GMV rose 39% to ₹18.3 lakh crore in FY24. Subscription revenues grew significantly, with 1.07 Cr merchants paying for device subscriptions as of March 2024.

 

FY 2024 has been a landmark year for the company as it achieved its first full year of profitability since IPO, with an EBITDA before ESOP level of ₹559 crore, up by ₹734 crore from the previous fiscal year. The company’s revenue from Payment Services grew by 26% YoY to ₹6,235 crore in FY24, and by 7% YoY to ₹1,568 crore in Q4FY24.

 

The company received UPI incentives of ₹288 crore for FY24 (recorded in Q4 FY24), compared to ₹182 crore in the previous fiscal. Contribution profit rose by 42% to ₹5,538 crore in FY24, and overall loan distribution increased by 48% to ₹52,390 crore. User engagement on the platform also grew, with average Monthly Transacting Users (MTU) for Q4FY24 rising by 7% YoY to 9.6 crore.

 

Paytm expects strong revenue growth and improved profitability from Q2FY25, focusing on expanding financial product distribution through bank partnerships and enhancing customer retention and service.

Sushant Singh