Fintech
Fintech firm Paytm expects 19% growth in flight bookings in January-March quarter | Company news
Paytm says it recorded around 15% year-on-year increase in international ticket bookings in April
Paytm Travel has also onboarded three new carriers including Cambodia Angkor Air, SalamAir and FlyDubai. (Photo: Reuters)Press Trust of India New Delhi
Fintech firm One97 Communications says it recorded 19% year-on-year growth in flight bookings in the January-March quarter this year, the company said in a regulatory filing on Monday.
Paytm’s travel ticketing business falls under the marketing services vertical, which grew 1% in revenue to Rs 395 crore year-on-year in the March 2024 quarter.
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“In Q4FY24, 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% , exceeding the industry growth rate of approximately 3%,” the document reads.
Paytm’s marketing services business primarily includes ticketing (travel, movies, events, etc.), advertising, credit card marketing, offers and gift vouchers.
The company had recorded 28% growth in GMV (gross merchandise value) for tickets, offers and gift vouchers etc. to Rs 2,804 crore year-on-year, driven by increased market share in travel (despite disruptions) and higher volumes in the events business.
Paytm says it recorded around 15% year-on-year increase in international ticket bookings in the month of April.
The company has partnered with global technology companies such as Skyscanner, Google Flights and Wego to provide travel services to customers.
Paytm Travel has also onboarded three new carriers including Cambodia Angkor Air, SalamAir and FlyDubai.