Paytm GMV at 37% to Rs 4.05 trn in Jun qtr, value of loan disbursed grows
Loans disbursed through Paytm grew more than 2.5 times to Rs 14,845 crore, from Rs 5,554 crore a year earlier and volume grew by 51% to Rs 12.8 million, from Rs 8.5 million over the same period | Image: Bloomberg
One97 Communications, operating under the Paytm brand, reported a 37 percent growth in total merchandise value at 4.05 trillion rupees in the April-June quarter this year, the company said on Wednesday.
The company’s Gross Goods Value (GMV), which reflects total payments made to merchants on the platform, was 2.96 trillion rupees in the same period last year.
“Commercial Payments Volumes (GMV) for the quarter (for the three-month period ending June 2023) was 4.05 trillion rupees ($49.3 billion), a year-on-year growth of 37 percent,” the company said in a regulatory statement.
Loan amount disbursed through Paytm grew more than 2.5 times to Rs 14,845 crore, from Rs 5,554 crore a year earlier, and volume grew by 51% to Rs 12.8 million, from Rs 8.5 million over the same period.
“The month-over-month (MoM) loan distribution trend in June reflects the disbursement increase in May which included pent-up demand for business loans from April due to one of our partners not disbursing while they upgraded their systems,” Paytm said.
The average number of transacted users per month grew by 23 percent year-on-year to 92 million during the said quarter from 75 million in the June 2022 quarter.
The total subscribed merchant base, which the company earns from deploying payment devices, doubled to 7.9 million during the June 2023 quarter from 3.8 million a year earlier.
(Only the title and image for this report may have been reworked by the Business Standard team; the rest of the content is generated automatically from a shared feed.)
First published: Jul 05 2023 | 11:41 a.m ist