Paytm (One97 Communications) reported a 44% growth in its merchant payment volumes in January 2023. The company disbursed a total of 3.9 million loans in the last month, which was a 103% increase from January 2022.
Paytm's merchant payment volume (GMV) is set to grow by 44 per cent to Rs 1.2 lakh crore in January 2023, the company said on Wednesday. Its average monthly transaction users (MTU) grew by 29% last month to 89 million.
Notably, the company is seeing an upward trend in its growth in loans and monthly users over the past few months. Last month, the company disbursed a total of 3.9 million loans through its platform, which is 103% more than the amount of loans disbursed by the company in January 2022.
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Reflecting the increase in the number of loans disbursed, Paytm saw a massive 327% increase in the amount of loans disbursed through its platform in January 2023. 2022.
Notably, the shares of One 97 Communications Ltd (Paytm) continued to rally for the last three days. Shares of the fintech firm rose over 6 per cent to ₹624 per share on the BSE in early trade on Wednesday, after announcing its operational performance for the month of January.
The company witnessed an impressive growth in its consumer engagement. The company's payment instruments model helped it dominate offline payments. By the end of January, the company had earned a total of 6.1 million merchant subscriptions. The number of subscribed payment instruments grew by 0.3 million in a year.
In its stock exchange filing on Wednesday, Paytm said, "With our subscription as a service model, strong adoption of the devices drives subscription revenue and higher payment volumes, while enhancing the funnel for our merchant loan disbursements." "
Paytm Gross Merchandise Value Growth in January 2023
The company said that its merchant payment volumes grew by 44 per cent to Rs 1.2 lakh crore in the last month. In a stock exchange filing, the company said that it is focusing on increasing the payment volume which is the major source of profit for the company. Payment volume generates profitability for Paytm from either net payment margin or direct upsell potential.
The company also expressed confidence in its payments consumer and merchant base which could offer a large market for long-term growth.
In the December quarter results, the company has achieved a milestone in terms of operating profitability. Paytm's earnings before interest, tax, depreciation and amortization (EBITDA) before employee stock ownership plan (ESOP) cost stood at ₹31 crore, with EBITDA before ESOP margin at 2 per cent of revenue.
Apart from this, the fintech giant's revenue from operations also increased by 42 per cent year-on-year to ₹2,062 crore.
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