Paytm GMV rises 37% to Rs4.05 lakh cr for Q1
Fintech firm One97 Communications, which operates under the Paytm brand, posted a 37 per cent growth in gross merchandise value at Rs4.05 lakh crore in the April-June quarter of this year, the company said on Wednesday.
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New Delhi: Fintech firm One97 Communications, which operates under the Paytm brand, posted a 37 per cent growth in gross merchandise value at Rs4.05 lakh crore 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 Rs2.96 lakh crore in the same period a year ago. “Merchant Payment Volumes (GMV) for the quarter (for three months ended June 2023) stood at Rs4.05 lakh crore ($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 Rs14,845 crore, from Rs5,554 crore a year ago and the volume grew by 51 per cent to 1.28 crore, from 85 lakh 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.
