Q3 2025 One 97 Communications Ltd Earnings Call Transcript
Key Points
- One97 Communications Ltd (BOM:543396) reported a significant increase in merchant transactions, indicating strong growth on the merchant side of the business.
- The company has seen a positive response to its RuPay on UPI transactions, which adds another monetization lever.
- There is a noticeable increase in interest from lending partners, particularly in the merchant cash advance (MC) product, which has performed consistently well.
- The company is exploring international expansion opportunities, particularly in the Middle East and Southeast Asia, which are seen as large potential markets.
- One97 Communications Ltd (BOM:543396) has maintained a strong cash position, with over $10,000 crore in cash in India, providing financial stability and flexibility for future investments.
- The company has experienced a loss in overall UPI market share, despite consistent growth in GMV.
- The consumer side of the business has been flat or slightly de-growing, even after adjusting for discontinued businesses.
- There is uncertainty regarding the exact structure and timing of the UPI incentive, making it difficult to predict future financial impacts.
- The company faces challenges in international expansion, with a long lead time required for setting up subsidiaries and obtaining necessary licenses.
- The contribution margin has been impacted by DLG costs, which have increased significantly due to the full quarter impact of new agreements.
We'll start our call with a Q&A after introduction to the management. (Operator Instructions) From Paytm management we have with us, Mr. Vijay Shekhar Sharma, Founder and CEO, Mr. Madhur Deora, President and Group CFO, and Mr. Anuj Mittal SVP, Investor Relations.
A few standard announcements before we begin. The information to be presented and discussed here should not be recorded, reproduced or distributed in any manner. Some statements made today may be forward-looking in nature. Actual events may materially -- differ materially from those anticipated in such forward-looking statements. Finally, a replay of this earning call and transcript will be made available on the company's website sequence subsequently. We'll start our Q&A now. We will unmute your line and take the raised questions -- take questions from the raised hands.
Questions & Answers
Pranav Gundlapalli, Bernstein.
Hey, good evening. Thanks for taking my question
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