 "Paytm")
Fintech firm One97 Communications, which operates under the Paytm brand, posted a 37 per cent growth in gross merchandise value at Rs 4.05 trillion in the April-June quarter of this year, the company said on Wednesday.
The company's gross merchandise value (GMV), which reflects total payments made to merchants on the platform, was Rs 2.96 trillion in the same period a year ago.
"Merchant Payment Volumes (GMV) for the quarter (for three months ended June 2023) stood at Rs 4.05 trillion ($49.3 billion), YoY growth of 37 per cent," the company said in a regulatory filing.
The value of loan disbursed through Paytm grew over 2.5 times to Rs 14,845 crore, from Rs 5,554 crore a year ago and the volume grew by 51 per cent to 12.8 million, from 8.5 million during the same period.
"MoM (month-on-month) loan distribution trend in June reflects the higher disbursal in May which included pent-up demand for merchant loans from April due to one of our partners not disbursing as they were upgrading their systems," Paytm said.
The average monthly transacting users grew 23 per cent on a year-over-year basis to 92 million during the reported quarter from 75 million in the June 2022 quarter.
The total subscription merchants base, which the company earns from seeding payment devices, more than doubled to 7.9 million during June 2023 quarter from 3.8 million a year ago.
