Paytm GMV Jumps 37 Per Cent To Rs 4.05 Lakh Crore In June Quarter

Paytm's average monthly transacting users grew 23 per cent on a YoY basis to 9.2 crore during the reported quarter from 7.5 crore in the June 2022 quarter

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 1.28 crore, from 85 lakh during the same period.

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One97 Communications, the parent firm of fintech firm Paytm, clocked a 37 per cent growth in gross merchandise value (GMV) at Rs 4.05 lakh crore in the April-June quarter of this year, the company said on Wednesday. The company's GMV, which reflects total payments made to merchants on the platform, was Rs 2.96 lakh crore in the same period a year ago.

"Merchant Payment Volumes (GMV) for the quarter (for three months ended June 2023) stood at Rs 4.05 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 Rs 14,845 crore, from Rs 5,554 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.

The average monthly transacting users grew 23 per cent on a year-on-year (YoY) basis to 9.2 crore during the reported quarter from 7.5 crore in the June 2022 quarter. The total subscription merchants base, which the company earns from seeding payment devices, more than doubled to 79 lakh during June 2023 quarter from 38 lakh a year ago. 

Paytm Founder and CEO Vijay Shekhar Sharma on Monday said companies operating in India should abide by rules and regulations laid down by the country on data localisation, and also have an obligation to protect data of citizens. Start-ups in India are at an "incredible inflection point" Sharma said, adding there is no dearth of funds for start-ups focussed on solving real-world challenges with their innovative approach.

"I am all for protecting our citizen data. Let it be clear if you are operating in this country, you are supposed to be abiding by laws and regulations of this country. You can't say my court is in another country...," Sharma said.