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Paytm posts Q2 results, revenue from ops up by 64% to Rs 10.9 bn

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India’s leading digital ecosystem for consumers and merchants, Paytm announced its second quarter earnings report. The digital payments and financial services platform saw its revenue from operations grow by 64 per cent Y-o-Y to Rs 10.9 billion in Q2 FY 2022, driven by 52 per cent growth in non-UPI payment volumes (GMV) and more than 3 times growth in financial services and other revenue.

The company’s contribution profit grew to Rs 2.6 billion in Q2 FY 2022, year-on-year increase of 592 per cent. The contribution margin jumped to 24.0 per cent of revenue from 5.7 per cent the previous year.

Paytm posted an improved Adjusted EBITDA margin to (39 per cent) of revenues in Q2 FY 2022 (Rs 4,255 million), from (64 per cent) of revenues Q2 FY 2021 (Rs 4,267 million), along with increased investments in technology and merchant base expansion.

“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,” said the company’s management on the second quarter earnings.

Paytm’s Gross Merchandise Value (GMV) growth was driven by active user engagement & adoption across businesses. The company’s GMV for Q2FY2022 was Rs 1,956 billion, up by 107 per cent Y-o-Y and the growth momentum continued in October 2021, where the GMV at Rs 832 billion was up 131 per cent Y-o-Y.

The company’s average Monthly Transacting Users (MTU) in Q2FY2022 is up by 33 per cent Y-o-Y to 57.4 million and the trajectory has continued in October 2021 with 63 million MTUs, growth of 35 per ent Y-o-Y compared to 47 million MTUs in October 2020. The Monthly GMV per Transacting User for Q2 FY 2022 grew 55 per cent Y-o-Y to Rs 11,369.

Paytm, which has been focussed on growing its financial services platform, saw its revenue from payments and financial services grew 69 per cent Y-o-Y to Rs 8,426 million while Commerce and Cloud Services revenue grew by 47 per cent Y-o-Y to 2,438 million.

The company’s lending sector saw a huge boost as the number of loans disbursed grew 714 per cent year-on-year to over 2.8 million in Q2 FY 2022. The lending business continued to show strong growth as a result of the rapid scale-up of all of the company’s lending products, including Postpaid (Buy-Now-Pay-Later), consumer loans and merchant loans. The company’s financial institution partners disbursed around 1.3 million loans in October 2021, a 472 per cent increase in numbers of loans disbursed Y-o-Y and aggregating to a total disbursal of Rs 6,270 million implying a 418 per cent increase in value of loans disbursed Y-o-Y.

Paytm’s merchant base grew to 23 million in Q2 FY 2022, up from 18.5 million in Q2 FY 2021. The devices deployed base grew to 1.3 million in Q2 FY 2022 from 0.3 million as of Q2 FY 2021. We continue to witness strong adoption of our devices amongst merchant partners as our deployed base further increased to approximately 1.4 million as of October 2021, the company said.

Business

‘What Is The Hack?’: X User Raises Questions Over Uber’s Differential Pricing On iPhones & Android

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Cab-aggregator services have become an integral part of commute in many urban centres in India. Uber is one of the biggest names in the business, not just in India but globally.

In a story that surrounds the functioning of the application, one user took to X, to notify a peculiar observation.

While many have anecdotally mentioned a pattern of distinction in the pricing of the services, depending the device in use, this apparent differential phenomenon was highlighted by an X user who noticed the same.

Different Phones, Different Prices

The user who goes by the name SUDHIR, with the handle @seriousfunnyguy took to X with a photograph of two phones. The phones in the photograph had the Uber open. In the app, the user was in the process of booking a ride.

As one book a ride, the app shows different modes and options along with their respective pricing. In this, on one phone, which is an Android phone, the price is lower than the price for the same distance, on an iPhone. The rides were also booked at the same time.

The indignant user added, “Same pickup point, destination & time but 2 different phones get 2 different rates. It happens with me as I always get higher rates on my Uber as compared to my daughter’s phone. So most of the time, I request her to book my Uber. Does this happen with you also? What is the hack?”

Different Pricing Across Modes

In this, the pricing on the Android phone is shown to be lower than the prices on the Apple iPhones for all options, including Uber Auto, Uber Go, Go Sedan and Uber XL.

In the first option, there is a gap of over Rs 42. With Uber Go, there is a difference that is even greater at over Rs 120. For the Uber Go Sedan, the difference is over Rs 65. In addition, the price for Uber XL is close to Rs 100.

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Business

‘Its Prime Real Estate’: Anand Mahindra Expresses Awe At Grandiose Of Brabus Big Boy 1200

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In the City of Dreams that is Mumbai, one of the biggest ‘dreams’ of most who live in the metropolis is to find an abode, that they can call it their own. Real estate in Mumbai is known for its sky-high pricing, with figures of Rs 10-15 crore not surprising anyone.

The Motorhome

Space is a major issue in city, given the paucity of it, in a region that encompasses millions. However, what happens when the space is not only available but also mobile? That is precisely what a ‘motorhome’.

It may not been the most commonly seen or discussed avenue in this part of the world, but in other parts of the world, particularly in the US, an RV or recreational vehicle is the way of life, either by choice or by circumstance.

Mahindra Group chairman, Anand Mahindra recently reacted to one such motorhome. In a post on X, he shared a minute-long clipping of the Brabus Big Boy 1200. This is an uber-luxe, profligate motorhome manufactured by the German automobile company Brabus.

Mahindra, while reacting to the video of a person showing around the bus said, That’s not transport. It’s prime real estate.”

And one may arguably agree with Mahindra on this. The vehicle is extravagant and has a length of 12 meters or 39.4 ft and over 30 square meters or 320 sq ft. For context, the average size of homes in city of Mumbai hovers around 400-700 sq ft.

What Are The Features Of This Motorhome?

In addition, the vehicle also has two electrically extendable slide-outs on each side. These slide-outs can extend the bedroom and saloon to a width of 4.50 meters.

In addition, the motorhome also consists of a double bed measuring 160 x 200 centimeters.

A closet is integrated into the rear wall of the vehicle.

For amusement, the vehicle also has a desk and a 43-inch 4K television. Here one could watch TV programs that have been made available on the system play games on the integrated Playstation 5 system.

In addition, one can also connect to the internet through the Starlink system.

When it comes to the vehicle, it runs on a12.8-liter six-cylinder turbodiesel engine. This engine can deliver 390 kW / 530 hp and can generate a maximum torque of 2,600 Nm.

The vehicle is priced at around USD 1.5 million or a whopping Rs 12 crore.

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Business

Maha will play key role in achieving India’s $5 trillion economy goal: Minister Tatkare

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Nagpur, Dec 21: Representing Maharashtra in the pre-Union Budget meeting held in Jaisalmer, Minister Aditi Tatkare on Saturday assured that Maharashtra would play a pivotal role in India’s journey towards becoming a $5 trillion economy.

She emphasised the need for special financial assistance to the state in the upcoming Union Budget.

Minister Tatkare presented Maharashtra’s vision, highlighting its strategic role in realising the Prime Minister’s goal of a ‘Viksit Bharat’ by 2047.

Minister Tatkare outlined several critical issues and proposals for inclusion in the Union Budget. She urged the finance minister for central assistance for state Capital Investment by enhancing the allocation under the Scheme for Special Assistance to States for Capital Investment.

She emphasised the need for streamlining fund disbursement timelines to provide qualifying states with a minimum one-year utilisation window.

In the wake of rapid urbanisation, Minister Tatkare called for central support to tackle the challenges faced by the state.

“Maharashtra, with urbanisation expected to surpass 50 per cent in the upcoming census, faces challenges in resource mobilisation for urban local bodies (ULBs). The state government urges support for ULBs to access long-term loans for planned urban development and infrastructure enhancement,” she said.

Under the MukhyaMantri Saur Krushi Vahini Yojana 2.0, aimed at solarising agricultural feeders, Minister Tatkare sought increased targets and funding allocations for Maharashtra.

She requested expansion of Battery Energy Storage System (BESS) capacity from 500 MWh to 9,000 MWh to meet the state’s energy storage goals.

In order to further boost the modernisation of the home department, Minister Tatkare sought funds on a 60:40 basis, for projects such as digital forensic labs, mobile forensic vans, AMBIS systems, and the Cyber Security Project (Rs 837.86 crore).

She highlighted the need for funding major initiatives like Dial 112 emergency services integration and Maharashtra Police Station CCTV projects.

She urged financial support for faster case disposal through enhanced infrastructure for the judiciary.

She requested funding for constructing the Bombay High Court Complex in Bandra (East), estimated at Rs 3,750 crore.

Further, to push the implementation of the Mumbai Metropolitan Region (MMR) economic master plan, Minister Tatkare proposed a special package.

The master plan is aligning with NITI Aayog’s vision to transform MMR into a national growth hub by 2030.

According to NITI Aayog, the MMR has a potential to increase its GDP to $300 billion by 2030 from the present level of $140 billion.

The Centre’s public policy think tank has asked the Maharashtra government to concentrate on seven growth drivers and attract investment of $125-135 billion from the private sector to achieve the target.

In a bid to push the state government’s ambitious plan to make Maharashtra drought-free, the state government has sought central government support to include state-funded river-linking projects like Wainganga-Nalganga and Damanganga-Godavari under the National Interlinking of Rivers Scheme.

Further, the state government appealed to the Centre to ease revenue expenditure pressures to create fiscal space for capital projects and establish a ‘Kisan Vishesh Sahayata Nidhi’ to compensate farmers affected by trade policy interventions.

The state government also appealed for the enhancement of funding for ongoing schemes like the Jal Jeevan Mission and financial assistance for disaster-affected areas.

Minister Tatkare said the comprehensive representation highlighted Maharashtra’s ambitions and challenges, ensuring the state’s priorities were well-articulated for the Union Budget deliberations.

She reiterated Maharashtra’s commitment to becoming a cornerstone of India’s economic growth and development trajectory.

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