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Paytm Q3 results: Revenue up by 89% to Rs 1,456cr, losses reducing while financial services ramps up rapidly

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One97 Communications Limited, which Paytm, Indias leading digital payments and financial services company, has shared its Q3 FY2022 results.

During the October-December quarter, the company saw its revenues jump by 89 per cent y-o-y to Rs 1,456 crore, EBITDA losses (before ESOP expense) came down to Rs 393 crore from Rs 488 crore during the same quarter in the previous year. This revenue increase was led by high monetization and growth in merchant payments through MDR bearing instruments, new device subscriptions and loan disbursements.

The company also saw its average Monthly Transacting Users at 64.4 million, and a GMV of Rs 2.5 lakh crore.

A Paytm spokesperson said: “Our business is to offer payments for consumers and merchants, and cross-sell high-margin financial services and commerce to them. We acquire customers on our consumer app for bill payments, money transfer and offline merchant payments, and offer them Paytm Payment Instruments (Paytm Wallet, Paytm Payments Bank account, and Paytm Postpaid) and Paytm UPI. We acquire merchants for QR payments, EDC and Soundbox devices and Payment Gateway (for online merchants). We use insights from our platform to offer various financial products to our customers and merchants. We also provide high-margin Commerce and Cloud Services to our merchants to help them enable commerce using the Paytm App.”

The company’s revenue from payment services to consumers was up by 60 per cent at Rs 406 crore, while the revenue from payment services to merchants was up by 117 per cent to Rs 586 crore. The cloud and commerce services also saw its revenue jump by 64 per cent to Rs 339 crore.

Rapid Scale up of Financial Services Operating on Platform Leverage

A major part of the company’s Q3 results was seen in its financial services play ramping up. The company disbursed 4.4 million loans (401 per cent y-o-y growth) aggregating to a total value of Rs 2,181 crore (366 per cent y-o-y growth).

The company’s credit business spread across three main verticals — Paytm Postpaid (Buy Now, Pay Later), merchant loans and personal loans, saw rapid scale up. Number of Postpaid Loans disbursed grew 407 per cent Y-o-Y in Q3 FY 2022, while the value of Postpaid Loans grew 408 per cent Y-o-Y.

The number of Personal Loans disbursed grew 1,187 per cent Y-o-Y in Q3 FY 2022, while the value of Personal Loans grew 1,925 per cent Y-o-Y. We see a significant potential to cross-sell as over 50 per cent of personal loans were disbursed to our existing Paytm Postpaid users. Average ticket size ranged from ?80,000-90,000 with average tenure of 12-14 months.

Additionally, the number of Merchant Loans disbursed grew 38 per cent Y-o-Y in Q3 FY 2022, while the value of Merchant Loans grew 128 per cent Y-o-Y. More than 25 per cent of loans were disbursed to new to credit borrowers. Average ticket size continues to increase with scale, now at Rs 120,000-140,000 with average tenure of 12-14 months. Repeat loans have seen a healthy take up, with 25 per cent of merchants having taken a loan more than once.

Contribution Profit Jumps by 6X

The company has seen a step-change in its contribution profit between FY 2021 and FY 2022. The contribution profit for Q3 FY 2022 at Rs 454 crore represents a 560 per cent Y-o-Y growth. The company’s expenses as a percentage of revenues are also coming down sharply.

Business

New TVS Apache RR 310 Hits Indian Market at Rs 2.75 Lakh: All You Need to Know

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TVS has introduced the 2024 edition of its flagship Apache RR 310 in India, starting at Rs 2.75 lakh (ex-showroom). The updated model brings several enhancements, including segment-first aerodynamic winglets integrated into the side fairing, aimed at improving stability and performance.

The latest version of the TVS Apache RR 310 comes with a starting price of Rs 2.75 lakh (ex-showroom) for the Racing Red model. However, this variant does not include the bi-directional quick-shifter. For those looking to add this feature, it will cost approximately Rs 17,000 extra. The 2024 lineup also introduces a new Bomber Grey color option, priced at Rs 2.97 lakh (ex-showroom), offering a stylish and performance-focused upgrade.

The 2024 TVS Apache RR 310 retains its 312cc single-cylinder, liquid-cooled engine with a 6-speed gearbox, but now offers improved performance. The updated model produces 37 bhp at 9,800 rpm and 29 Nm of torque at 7,900 rpm. TVS also claims that it accelerates faster than before, shaving 0.43 seconds off its 0-100 km/h time, making it a more exciting choice for riders looking for speed and agility.

The 2024 TVS Apache RR 310 keeps its familiar trellis frame, supported by upside-down front forks and a rear monoshock for improved handling. Braking is handled by disc brakes. It also comes with a 5-inch TFT display that offers Bluetooth connectivity and navigation.

The updated electronics package includes new features like tyre pressure monitoring, cornering ABS, traction control, and cruise control. While the overall design remains similar, it gets refreshed decals and is available in three colours: Bomber Grey, Racing Red, and Race Replica.

TVS has introduced two performance kits for the new Apache RR 310: the Dynamic kit, priced at Rs 18,000, and the Dynamic Pro kit at Rs 16,000. The Dynamic kit enhances the bike’s handling with fully adjustable suspension, a tyre pressure monitoring system, and a brass-coated drive chain. The Dynamic Pro kit, meanwhile, focuses on safety and stability, offering race-tuned dynamic stability control for better on-road performance. These upgrades allow riders to customize their experience for both performance and safety.

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Business

Jio network down: users are facing problems

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Some Jio users in Mumbai are experiencing network outages, causing the issue to trend on Twitter. According to reports on social media, the disruptions have affected specific areas in the city. One user claimed that the Reliance Jio IDC Data Centre caught fire, potentially causing service interruptions. The user tweeted, “Reliance Jio IDC Data Centre caught fire, some services down due to that.

The network of Reliance Jio, one of the leading telecom companies in India, has been down for the last 1 hour. So users are facing a lot of problems. Many have posted about this on social media and tagged Reliance Jio. Reliance Jio network is down since last 1 hour.

Due to this, many works of Jio users have been stopped. A user posted on X and informed that the Jio service has been shut down due to a fire in the IDC (data center). Repair work is going on here. The network will be restored soon. But Reliance Jio has not given any official information about this yet. Therefore, users are asking when the network will be restored.

Reliance Jio service has been discontinued. Most of the users have no signal in their mobiles. 20 percent reported internet connectivity disruption on Down detector. 14 percent people are facing problems in running Jio fiber. Reliance Jio’s website is also not working properly and users are unable to access the Jio app.

There are more than 10 thousand complaints on Downdetector around 12 noon. More outage issues have been reported from cities like Delhi, Lucknow and Mumbai. Users across the country are complaining about Jio service being down. Jio on X is also trending down. People are sharing memes for Jio.

Reliance Jio services have once again been suspended in many parts of the country. Today i.e. on 17th September it started from Mumbai, the financial capital of the country and now Jio is down in all the cities of the country. Earlier in May and June 2024 also, Jio services were suspended in Mumbai. Users are constantly complaining on social media about Jio being down but there is no concrete solution and assurance from the company yet.

Users on social media claim that Jio services have been suspended across Mumbai. There is a network problem for several hours. Many users have also complained about the broadband service. Outage tracker Downdetector has also confirmed Jio’s outage. According to Downdetector’s map, it has stopped in New Delhi, Lucknow, Nagpur, Cuttack, Hyderabad, Chennai, Patna, Ahmedabad, Kolkata, Guwahati.

More than 10 thousand people have complained on Downdetector in just 1 hour. On this site, 67 percent people complained about lack of signal, 20 percent about mobile internet and 14 percent about Jio Fiber.

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Business

‘Take A Trip To Vietnam For Your iPhone 16’: X User Proposes Cost-Effective Way To Buy The Latest Apple Smartphone

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Apple recently launched its latest iPhone series, the iPhone 16 series. In addition, the company also launched the latest Apple Watch along with the latest version of Apple AirPods.

Trip To Vietnam For Apple

Apple products from time immemorial have been known for their exorbitant and sky-high pricing. Many have often made memes about having to sell their organs to be able to afford one of their iPhones.

Now, with the latest launch, and X user has found a way to cut corners by taking a trip.

According to the user, an aspiring iPhone buyer in India should take a trip to the East Asian nation of Vietnam to be able to get the new iPhone 16 at a cheaper rate.

However, the user also notes that these savings can only be made, if the buyer is intending to buy the advanced iPhone 16 Pro iPhone 16 Pro Max.

Savings Only iPhone 16 Pro

The user said, “Plan your #iPhone16 purchase with a trip to #Vietnam and spend the same amount you would be spending buying it here in India.”

In addition, the user also added, “But the savings work only if you are planning to buy the #iPhone16Pro or the #iPhone16ProMax”.

In addition, the user also surmised an instance of users travelling to the UAE an purchasing these phones.

According to the user, the Visa fees & fight rates don’t make Dubai that lucrative unless flying somewhere via UAE or planning for the #iPhone16ProMax only”.

As per the statistics produced by the user, the most expensive iPhone 16 Pro Max will cost an Indian buyer Rs 1,44,900 a piece. In Vietnam, however, it would cost a buyer Rs 1,18,992.

This marks a difference of Rs 25,908. Meanwhile, in the UAE, particularly in Dubai, the same phone would cost the buyer Rs 1,16,550, marking a difference of Rs 28,350.

The iPhone series will be available in India from September 20, with the pre-order for the phone starting on September 13.

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