Paytm Parent Reports 19% Growth In Flight Bookings In Q4
The company's 19% growth in flight bookings, part of its marketing services vertical, outpaced the industry's growth rate of 3%.
Fintech firm One97 Communications, the parent of Paytm, reported a 19% year-on-year growth in flight bookings in the fourth quarter ended March 2024.
The travel ticket business of Paytm falls within its marketing services vertical, which grew by 1% in revenue terms to Rs 395 crore on a year-on-year basis in the fourth quarter, according to an exchange filing.
"In the fourth quarter of financial year 2024, Paytm maintained its upward trajectory in market share among online travel aggregators, with flight bookings showing a notable year-on-year increase of around 19%, surpassing the industry's growth rate of around 3%," the company said in the filing.
Paytm's marketing services business primarily includes ticketing—for travel, movies, and events—advertising, credit card marketing, and deals and gift vouchers.
The company had posted 28% growth in gross merchandise value for ticketing, deals, and gift vouchers to Rs 2,804 crore on a year-on-year basis, driven by an increase in market share in travel (despite disruption) and higher volumes in the events business.
Paytm claims to have recorded around 15% year-on-year rise in international ticket bookings in April.
The company has partnered global technology firms like Skyscanner, Google Flights, and Wego for providing travel services to customers.
Paytm Travel has also onboarded three new carriers including Cambodia Angkor Air, SalamAir, and FlyDubai.
(Text inputs from PTI)
