Paytm parent One97 Communications has seen a 19% year-on-year (y-o-y) growth in flight bookings in January-March, significantly outpacing the industry growth rate of around 3%.
The company’s ticketing business operates on the Paytm Travel platform.
Paytm is the second largest online travel aggregators (OTAs) in train bookings in January-March, enhancing customer experience with new features like guaranteed seat assistance, and easy tatkal, the company said in an exchange filing on Monday.
The growth in Paytm’s travel segment has been driven by partnerships and travel solutions. The company has collaborated with various global travel aggregators, including Skyscanner, Google Flights and Wego.
“This growth is further underscored by a 15% y-o-y rise in international ticket bookings in April, showcasing Paytm Travel as the preferred destination for competitive prices and seamless services in travel bookings,” the filing noted.
The company’s travel ticket business of Paytm falls within the marketing services vertical, which rose 1% year-on-year(y-o-y) to Rs 395 crore in the March quarter.
Paytm’s travel ticket business falls within the marketing services vertical, which rose 1% y-o-y to Rs 395 crore in the March quarter. The marketing services segment includes ticketing, advertising, credit card marketing, and deals and gift vouchers.
The gross merchandise value for ticketing, deals, and gift vouchers rose 28% y-o-y to Rs 2,804 crore, driven by an increase in market share in travel and higher volumes in the events business.
Paytm Travel has also onboarded three new carriers—Cambodia Angkor Air, SalamAir, and FlyDubai—to provide more options for international travelers.
The platform has expanded its offerings by adding new bus operators, including Mettur, and introducing a ‘free cancellation’ service, which has seen high growth in trains and buses, followed by flights, according to the filing.
“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.,” a company spokesperson said, adding that the company aims to deliver exceptional value and a superior travel experience to customers.