New Delhi, Paytm, India's leading digital payments and financial services, reported its Q3 FY2021 results on Friday night, where it saw its revenues grow by 89 per cent to Rs 1,456 crore.

The company's income from payment services to merchants jumped by 117 per cent to Rs 585 crore, constituting 40 per cent of total revenues in the quarter ending December 2021 compared to the same quarter of the previous year. EBITDA losses reduced to Rs 393 crore, excluding a one-time ESOP expense cost of Rs 390 crore recorded in Q3 FY 2022 from the grant of 26.6 mn Employee Stock Option (ESOPs).

Paytm's merchant base has grown to 24.9 million. This shows the adoption of Paytm's services and has also translated into high engagement seen in its average Monthly Transacting Users of 64.4 million, along with its merchant payments-led GMV of Rs 2.5 lakh crore.

Lending continues to be a big growth driver for the company with total loans at 4.4 million in Q3 FY2021, aggregating to a total loan value of Rs 2,177 crore. In the Merchant loans category, the company reported a growth in the total value of loans disbursed to Rs 471 crore, up by 127 per cent, with an average ticket size of Rs 120,000-Rs 140,000. In the Personal Loans category, the company recorded a growth of 1,923 per cent to Rs 515 crore, with an average ticket size of Rs 80,000-Rs 90,000. In the booming Buy Now, Pay Later Category, Paytm Postpaid saw its total value of loans go up by 408 per cent to Rs 1,190 crore, with a presence at over 3.5 million online and offline merchants.

The company's strong quarterly results were welcomed by top brokerages