Paytm reports a net loss of ₹550 crore in Q4FY24, with revenue down 2.9% YoY to ₹2,267.10 crore. Discover key highlights and insights.
Paytm's revenue from operations fell 2.9% YoY to ₹2,267.10 crore, compared to ₹2,334 crore last year. A significant quarterly drop of 20%.
Paytm's net loss for Q4FY24 widened to ₹550 crore, primarily due to the RBI's ban on Paytm Payments Bank in January.
Paytm cut marketing expenses by 16% QoQ to ₹2,691 crore, maintaining stability YoY. Efforts to offset the revenue impact.
Despite Q4 challenges, Paytm's FY24 revenue grew 25% to ₹9,978 crore, with losses narrowing to ₹1,442 crore, a 19% improvement.
Q4 payments revenue grew 7% YoY to ₹1,568 crore but dropped 9% QoQ. Annual GMV rose 30% YoY to ₹4.7 lakh crore.
Paytm's lending business saw a 36% YoY decline in Q4 revenue to ₹304 crore, due to paused loan distribution and operational adjustments.