The loss during the year-ago period stood at Rs 437 crore.
The revenue from operations grew by 64 percent year on year (YoY) to Rs 1,090 crore in the second quarter of FY22.
This was driven by 52 percent growth in non-UPI payment volumes (GMV) and more than three times growth in financial services, the company said in a regulatory filing.
The contribution profit was reported to be Rs 260 crore during the quarter under review, up six-fold, following the monetisation of its distribution base through "high margin" offerings such as lending, advertisements and commerce offerings.
On a segment level, payment and financial services revenue stood at Rs 842.6 during the quarter ended September crore as compared to Rs 497.8 crore during previous fiscal posting a 69 percent growth. The cloud and commerce services posted a revenue of Rs 243.8 crore, a growth of 47 percent against Rs 166 crore revenue YoY.
The total direct expenses escalated by 32 percent to Rs 825.7 crore from Rs 626 crore YoY.
In an interaction with Moneycontrol, founder Vijay Shekhar Sharma with an aim to assuage investor concerns had said that Paytm's growth numbers in the coming quarters would do the talking.
Shares of One97 Communications extended their gains for the third straight day after seeing a disappointing debut on the stock exchange.
On November 25 at 01:51 pm, the stock was trading 2.4 percent higher at Rs 1,794 on the BSE. It hit an intraday high of Rs 1,875, which was more than 45 percent higher from it's all-time low of Rs 1,271.25 hit on November 22.
“The growth of non-UPI GMV has driven continued payments revenue growth, and our UPI-led payment volume growth is translating to a significant ramp up of our financial services offering. We are driving digital payments and financial services penetration and widespread adoption across India. Paytm has seen a strong second quarter of FY22, which is a testimony to the strong two-sided ecosystem of consumers and merchants that we have built. We have maintained the growth momentum in our payments services business, expanded our financial services business aggressively and are on our way to pre-COVID volumes for Commerce and Cloud services," the company said in a statement.
Paytm also said that it has transferred it's online Payment Aggregator business to Paytm Payments Services in a bid to comply with RBI's new guidelines for Payment Aggregators and Payment Gateways which will come into effect on January 1, 2022.
The guidelines mandate that e-commerce marketplaces cannot continue providing PA services, but they can continue to do so if the PA service is separated from the e-commerce marketplace business.
On the IPO proceeds, the company which recently launched Rs 18,300 crore public listing said it will provide an update on utilisation effective next reporting period following the actual utilisation of the funds.Paytm which is heavily focussing on the financial services segment also said it disbursed 2.8 million loans in the quarter under review, double as compared to the previous quarter.