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Paytm hits 1469 billion GMV in June 2021 quarter; up 111% YoY

One97 Communications Ltd, the owner of the Paytm payments app, on Friday, sought the markets regulator's approval for its  ₹16,600 crore initial public offer(IPO) that is poised to become the country's biggest initial share sale. (REUTERS)Premium
One97 Communications Ltd, the owner of the Paytm payments app, on Friday, sought the markets regulator's approval for its 16,600 crore initial public offer(IPO) that is poised to become the country's biggest initial share sale. (REUTERS)

  • One97 Communications Ltd, the owner of the Paytm payments app, on Friday, sought the markets regulator's approval for its 16,600 crore initial public offer(IPO) that is poised to become the country's biggest initial share sale

Mumbai: Mobile commerce firm Paytm clocked a gross merchandise value (GMV) of 1469 billion for the quarter ended 30 June 2021 against 697 billion for the same quarter last year, registering a growth of 110.76% YoY.

One97 Communications Ltd, the owner of the Paytm payments app, on Friday, sought the markets regulator's approval for its 16,600 crore initial public offer(IPO) that is poised to become the country's biggest initial share sale.

According to the DRHP, the company defines GMV as “the rupee value of total payments made to merchants through transactions on our app, through Paytm Payment Instruments or through our payment solutions, over a period and excludes any consumer-to-consumer payment service such as money transfers". As per Redseer, for the fiscal 2020-21, Paytm's GMV stood at 4,033 billion — highest in the payments industry.

“After a dip in GMV last year due to the onset of the covid-19 pandemic, it recovered and began to perform better, beating its own record from the previous years. As lockdown eased in the second quarter of FY21, GMV increased consistently for the rest of FY21 primarily due to an increase in the transactions of online and in-store merchants. Even during the first quarter of FY22, which was impacted by the second wave of covid-19, saw continued growth in GMV," the company said in its DRHP.

As per the DRHP, company’s focuses on consumer to merchant transactions for growth. GMV per MTU (Monthly Transacting User) exceeded pre-covid levels of 9719 in June 2021 quarter compared to 5949 crore in the same quarter last year.

The Alibaba-backed company focuses on building revenue focused business models and this has resulted in a spike in its merchant base despite the covid-19 pandemic, from 16.3 million in FY20 to 21.1 million in FY21, as it offers a full suite of payment services, and technology solutions to grow their businesses and share of their payments.

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