Paytm Sees 19% Growth in Flight Bookings in January-March Quarter

Fintech firm One97 Communications claims to have registered on-year growth of 19 per cent 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 percent 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 percent, surpassing the industry's growth rate of around 3 percent," the filing said. 

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Paytm's marketing services business primarily includes ticketing (for travel, movies, 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, 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 a 15 per cent year-on-year rise in international ticket bookings in April. The company has partnered with global technology firms like 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. As per the Economic Times, a company spokesperson said, “Our partnerships with global travel aggregators and leading airlines, combined with the integration of artificial intelligence, underscore our dedication to providing seamless, convenient, and competitive travel solutions.” 

To offer flight, bus, movie, and event ticket bookings, fintech firm Paytm has also teamed up with Samsung. To add to it, three international carriers—Cambodia Angkor Air, SalamAir, and FlyDubai—have been added by Paytm Travel. After the RBI’s restrictions on Paytm Payments Bank, the fintech firm has been reportedly trying to diversify its revenue streams. 

(With inputs from PTI)