Internet Software & Services firm One97 Communications announced Q1FY23 Result : Revenue from Operations Main drivers were increase in subscription revenues due to growing number of payment devices, growth in bill payments due to growing MTUs, growth in disbursements of loans by our partners through our platform, and increase in Commerce revenues Rs1,680 Cr 89% growth YoY Contribution profit Improved to 43.2% of revenue in Q1 FY 2023 from 27.5% in Q1 FY 2022 and 35.0% in Q4 FY 2022, driven by growth in payments profitability, and faster growth of higher margin businesses such as loan distribution Rs 726 Cr EBITDA (Before ESOP cost) Improvement of Rs93 Cr compared to Q4 FY 2022 Margin improved to (16%) of revenues from (37%) of revenues in Q1 FY 2022, despite continued investments in technology, sales and marketing On track to achieve EBITDA (before ESOP cost) profitability by quarter ending September 2023 Number of payments devices Continued strong growth in device deployment, over 0.9 mn devices added in Q1 FY 2023 Loan distribution business has scaled up significantly over the last 12 months, seeing increased adoption by users. Number of loans at 8.5 mn, grew 492% YoY, while value of loans grew 779% YoY to Rs5,554 Cr Result PDF
Conference Call with One97 Communications Management and Analysts on Q1FY23 Performance and Outlook. Listen to the full earnings transcript. Management in attendance: Vijay Shekhar Sharma, Madhur Deora