Paytm’s GMV rises to ₹2.34 lakh cr in Jan-Feb; loan disbursements up 286% YoY to ₹8,086 cr
- In regards to Gross Merchandise Value (GMV), Paytm said, ‘our focus over the past few quarters continues to be on payment volumes that generate profitability for us, either through net payments margin or from direct upsell potential.’
Paytm sustained its growth in payments and loan distribution business in the first two months of the fourth quarter of FY23. The fintech giant recorded a total merchant GMV of ₹2.34 lakh crore from January to February of 2023, rising by 41% year-on-year. Also, the company posted loan disbursements of ₹8,086 crore on its platform in the two months, increasing by a whopping 286% YoY.
In regards to Gross Merchandise Value (GMV), Paytm said, "our focus over the past few quarters continues to be on payment volumes that generate profitability for us, either through net payments margin or from direct upsell potential."
While it continues to witness accelerated growth with total disbursements through its platform. Paytm said, "our payments consumer and merchant base offers a large addressable market, thereby providing a long runway for growth."
It added, "We continue to work with our partners to remain focused on the quality of the book."
In February 2023 alone, the company's loan distribution business with disbursements stood at ₹4,158 crore up by 254% compared to the same month a year ago. While the company disbursed 4 million loans in February, rising by 86% YoY.
Paytm, which pioneered QR and mobile payments in India, continued to expand its consumer base with average monthly transacting users (MTU) at 89 million for quarter to date (average for January & February 2023), up 28% YoY.
Meanwhile, in regards to average monthly transacting users (MTU) for the quarter to date (for January & February) came in at 89 million, registering a growth of 28% YoY.
Also, Paytm touched a new milestone in offline payments leadership. It strengthened its leadership in offline payments, with 6.4 million merchants now paying a subscription for payment devices, an increase of 0.3 million in February 2023.
Further, the company's subscription devices like Soundbox and POS machines continue to see increased acceptance by merchants, driving additional payment monetization for Paytm.
Paytm said, "With our subscription as a service model, the strong adoption of devices drives subscription revenues and higher payment volumes, while increasing the funnel for our merchant loan distribution."
On BSE, Paytm share price closed at ₹580.90 apiece down by 2.06%. The company's market cap is nearly ₹37,720 crore.
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Business NewsCompaniesNewsPaytm’s GMV rises to ₹2.34 lakh cr in Jan-Feb; loan disbursements up 286% YoY to ₹8,086 cr
First Published:13 Mar 2023, 04:12 PM IST
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