Fintech firm Paytm sees 19% growth in flight bookings in Jan-Mar quarter

Fintech firm One97 Communications claims to have registered on-year growth of 19 per cent growth in flight bookings in the January-march quarter of this year, the company said in a regulatory filing on Monday.

The travel ticket business of Paytm falls within its marketing services vertical, which grew by 1 per cent in revenue terms to Rs 395 crore on a year-on-year basis in the March 2024 quarter.

"In the fourth quarter of financial year 2024, Paytm maintained its upward trajectory in market share among OTAs (online travel aggregators), with flight bookings showing a notable year-on-year increase of around 19 per cent, surpassing the industry's growth rate of around 3 per cent," the filing said.

Paytm's marketing services business primarily includes ticketing (travel, movie, events etc.), advertising, credit card marketing, and deals and gift vouchers.

The company had posted 28 per cent growth in GMV (gross merchandise value) for ticketing, deals and gift vouchers etc. 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 per cent 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.