Consolidated revenue from operations for the quarter under review surged by 51% YoY to Rs 2,334 crore, led by increase in GMV, higher merchant subscription revenues, and growth of loans distributed through the company's platform.

Including current quarter's UPI incentive only, Q4 FY23 revenue growth was 43% YoY and contribution margin was 52%, versus 35% in Q4 FY22. Q4 EBITDA before ESOP, excluding Rs 133 crore UPI Incentive pertaining to 9M FY23, was Rs 101 crore, an improvement of Rs 469 crore YoY.

One 97 Communications said that its average monthly transacting users (MTU) for Q4 FY 2023 grew by 27% YoY to 9 crore as adoption of mobile payments for consumers and merchants in India continues.

Subscription services for payment devices, such as Soundbox and POS machine, is also witnessing strong adoption, with 68 lakh merchants paying subscriptions to the company as of March 2023, more than doubling from 29 Lakh as of March 2022. The company continued to witness sustained growth in gross merchandise value (GMV), which stood at Rs 3.62 lakh crore for Q4 FY23, an increase of 40% YoY.

The company's loan distribution business continued to scale, in partnership with our lending partners. In Q4 FY23, across three product offerings (Paytm Postpaid, Personal Loans, and Merchant Loans), loans amounting to Rs 12,554 crore were distributed through the Paytm platform.

As of March 2023, 95 lakh borrowers have taken a loan through the company's platform. With low penetration rates currently for each of Paytm's loan distribution products, the company see a long runway for growth in this business. Device subscriptions offer an attractive cross-sell opportunity for merchant lending, while Postpaid customers are an upsell opportunity to personal loans and credit cards.

For the full year ended 31 March 2023, the company reported a consolidated net loss of Rs 1,776.5 crore as against Rs 2,396.4 crore in the same period last year. Revenue from operations in FY23 stood at Rs 7,990.3 crore, up 61% YoY.

One 97 Communications is the digital financial services firm which operates under the 'Paytm' brand. Paytm is India's payment super app offering consumers and merchants comprehensive payment services.