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

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
15th Rozgar Mela: EPFO hands over job letters to 976 new recruits

New Delhi, April 26: The Employees’ Provident Fund Organisation (EPFO) on Saturday handed over appointment letters to 976 new recruits as part of the 15th edition of the Rozgar Mela.
The Rozgar Mela was held across 47 locations nationwide. The event, addressed by Prime Minister Narendra Modi via videoconferencing, saw the distribution of over 51,000 appointment letters to newly inducted youth in various government departments, including EPFO.
“As part of this significant recruitment drive, EPFO welcomes new recruits to strengthen its workforce, ensuring efficient delivery of social security services to millions of subscribers across India,” said the Labour Ministry.
Appointment letters to 345 Accounts Officers/Enforcement Officers and 631 Social Security Assistants were issued as part of the drive.
The newly-appointed personnel will contribute to EPFO’s mission of providing provident fund, pension, and insurance benefits, supporting the government’s vision of a robust and inclusive economy.
EPFO has established recruitment vertical in head office to ensure regular recruitments and developed a recruitment calendar complying with directions of Union Minister of Labour and Employment, Dr Mansukh Mandaviya.
“During last one year, EPFO has recruited 159 Assistant Provident Fund Commissioners, 84 Junior Translation Officers, 28 Stenographers, 2674 SSAs among others. Further recruitment of APFCs, EO/AO, PAs and ASOs are underway,” according to the ministry.
The Rozgar Mela aligns with the Prime Minister’s commitment to prioritizing employment generation and empowering youth for nation-building.
EPFO’s participation underscores its dedication to transparent and merit-based recruitment, leveraging modernized processes to enhance service delivery. The new recruits will have access to training through the iGOT Karmayogi platform, besides formal training enabling them to upskill and excel in their roles.
EPFO said it extends its congratulations to all appointees and reaffirms its resolve to foster a future-ready workforce that drives India’s social security framework towards greater heights.
Business
Steel backbone of our economy, coal and mines strong foundation: G Kishan Reddy

Mumbai, April 26: Steel serves as the backbone of India’s economic progress and a vital enabler of the national vision for ‘Viksit Bharat 2047’, Union Minister of Coal and Mines, G Kishan Reddy, said on Saturday.
Addressing the 6th edition of ‘Steel India 2025’ here, the minister highlighted how India is setting new global benchmarks in infrastructure development, from the Chenab Bridge in Jammu and Kashmir, the world’s highest railway bridge, to the historic Pamban Bridge in Tamil Nadu — all made possible by the growing strength of the steel sector.
Every milestone in the nation’s infrastructure journey, he remarked, is forged in steel — reflecting the momentum and aspirations of a Nation on the move.
Reddy further stated that India’s steel sector has grown at an impressive pace in recent years, positioning the country as the second-largest steel producer globally.
Citing the words of Prime Minister Narendra Modi, the minister referred to steel as India’s “Sunrise Sector” — a key driver of domestic consumption, industrial expansion and self-reliance through the Atmanirbhar Bharat Abhiyaan.
Reddy expressed confidence that through close collaboration between the Centre, state governments and industry stakeholders, India will not only meet its raw material requirements domestically but also emerge as a global leader in sustainable, self-reliant steel production.
He urged all participants at the conference to contribute actively to shaping policies that will secure a greener and more resilient future for the nation’s steel ecosystem.
The Union Minister emphasised that if steel forms the backbone of India’s economy, the coal and mining sector represents the strong foundation on which it rests.
He highlighted the importance of raw material security, especially in the context of the current session on Raw Material Strategy and the Shift in Raw Material Mix.
Ensuring the availability of critical raw materials like iron ore, coking coal, limestone, and essential alloying elements such as manganese, nickel, and chromium, he noted, is both an economic necessity and a strategic imperative.
India recently achieved a landmark milestone of 1 billion tonnes of coal production and dispatch in the last financial year — a transformative step toward national energy security.
While efforts to enhance renewable energy are underway, the minister reaffirmed that coal will remain central to India’s energy and industrial landscape in the foreseeable future.
Focusing on coking coal, a critical input in steel manufacturing, Reddy pointed out that it constitutes nearly 42 per cent of steel production costs. India currently imports around 85 per cent of its coking coal needs, rendering the industry vulnerable to international price volatility and supply chain disruptions.
The minister called upon private stakeholders to actively participate in washeries, beneficiation plants, and block auctions. Pulverised Coal Injection (PCI) trials using domestic coal have already shown promise for import substitution, and greater innovation in beneficiation can further improve outcomes.
The minister also emphasised the importance of timely utilisation of greenfield mines, as reiterated by the Prime Minister.
Business
Foreign investors make notable return to Indian equity markets in April

New Delhi, April 26: Foreign investors have made a notable return to Indian equity markets this month, emerging as net buyers over the past two weeks, analysts said on Saturday.
In just the last seven trading sessions, foreign portfolio investors (FPIs) have turned decisively positive on Indian equities. This shift is largely attributed to a weakening US dollar, revisit of tariff agreements and a renewed sense of optimism surrounding India’s economic trajectory.
“Amid a challenging global backdrop, marked by sluggish growth in major economies like the United States and China, India continues to stand out higher for its economic resilience,” said Manoj Purohit, Partner and Leader, FS Tax, Tax and Regulatory Services, BDO India.
India is forecast to grow at a robust rate of over 6 per cent in FY26 and remains the only fastest-growing economy, making it a compelling destination for global investors.
“FPI inflows are expected to remain strong in the near term, providing additional support to the ongoing market rally. As global investors reassess their strategies, India’s economic fundamentals and earnings potential position it as a beacon of stability and growth in a turbulent events happening globally,” Purohit explained.
This month (till April 24), FPIs purchased equities worth Rs 22,716.43 crore while they sold equities worth Rs 17,196.33 crore, with net investment of Rs 5,520.1 crore.
Last month, FPIs ramped up buying in the second half of March 2025, driving a recovery in select sectors. BFSI led the inflows with a turnaround from $380 million selling to $2,055 million buying, netting $1,675 million for the month.
Telecommunications and metals and Mining also saw net inflows of $360 million and $219 million, respectively, according to a recent note by Bajaj Broking. Overall, FPI interest remained focused on BFSI, with most other sectors facing continued selling pressure.
With a strong economic outlook, policy reforms and a resilient market, India remains an attractive destination for global capital. The government’s continued focus on infrastructure, digital growth, and ease of doing business further boosts investor confidence.
The recent move by RBI to keep the existing corporate bond and G-sec limits unchanged for foreign portfolio investors (FPIs) is a testimony of the government’s intent to keep gateway open for offshore participants to continue infusing funds in India market.
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