New Delhi: Paytm parent company One97 Communication reported a significant 32% year-on-year increase in revenue, reaching Rs 2,519 crore. The company also saw an increase in its contribution margin, which went up to 57%, with a 13% year-on-year growth. This improvement can be attributed to better net payment margins and the loan distribution business.

Before accounting for Employee Stock Ownership Plans (ESOP), One97 Communication’s EBITDA showed improvement, increasing by 15 percentage points year-on-year to reach 6%. This is due to the enhanced contribution margin and operating leverage.

Paytm’s merchant subscription service experienced impressive growth in the last quarter, with a remarkable 91% year-on-year increase. The company added 44 lakh and 14 lakh new subscriptions in the past year and quarter, respectively.

In terms of innovations, Paytm’s fintech introduced three new soundboxes with added features for merchants. The “Paytm Pocket Soundbox” is designed for door-to-door merchants, like delivery agents and auto drivers, to facilitate payment collection. The “Paytm Card Soundbox” accepts both cards and UPI payments, providing multiple options for customers.

Paytm made significant strides in the domain of loan distribution, with a notable 122% year-on-year growth, reaching Rs 16,211 crore. The company reported that their lending partners distributed loans through their platform to 1.18 crore unique Paytm consumers and merchants.

The company provided an update on the buyback of equity shares, which was announced by the Board of Directors on December 13, 2022. The buyback commenced on December 21, 2022, and was successfully completed on February 13, 2023. During this process, the company bought back 15,566,746 equity shares at an average price of INR 545.93 per equity share, aggregating to INR 8,489 million.