One97 Communications Limited (OCL), which owns Paytm, on Wednesday announced its financial results for Q4FY24 and FY24. The company has reported strong growth in its core payments and financial services business.
Revenue from operations grew by 25% year-on-year, reaching ₹9,978 crore, driven by the growth in Gross Merchandise Value (GMV), device additions, and the expansion of financial services. FY24 has been a significant year for Paytm, marking its first full year of profitability since its IPO. The company achieved an EBITDA before ESOP of ₹559 crore, a substantial increase of ₹734 crore from the previous fiscal year.
The fintech company also received UPI incentives of ₹288 crore for FY24, compared to ₹182 crore in the previous fiscal year. Contribution profit rose by 42% to ₹5,538 crore, led by an increase in net payment margins and higher-margin financial services.
Revenue from Payment Services grew by 26% YoY to ₹6,235 Cr in FY24. While it increased by 7% YoY to ₹1,568 Cr in Q4FY24. The overall loan distribution value was up 48% to ₹52,390 Cr in FY24.
Paytm remains committed to long-term growth and profitability, driven by its strategic focus on insurance, wealth distribution, and AI-led efficiencies. The company continues to enhance its governance framework and regulatory compliance, ensuring sustainable growth and innovation in the financial services sector.