Paytm's average monthly users count increased by 19 percent, loans worth Rs 5194 crore distributed last month
Financial and payment services provider Paytm has seen a significant increase in average monthly users. According to fintech firm Paytm, the company's average monthly users grew 19 percent year-on-year to 93 million. Apart from this, the merchant subscription of the company has seen an increase of 4 lakhs in the last month. Know what was the GMV of Paytm.
There has been a big jump in the average monthly users of the payment and financial service provider Paytm. According to fintech company Paytm, its average monthly users have increased by 19 percent year-on-year to 93 million.
Paytm said in a filing that the company's merchant subscription stood at 8.2 million, including 4.1 million new subscriptions during the year. Sequentially, the company sees an increase in merchant subscriptions by about 4 lacks in July 2023.
The payment volume or Gross Merchandise Values (GMV) for merchants increased by 39 percent year-on-year to Rs 1.47 lakh crore.
We are seeing an increase in GMV of non-UPI instruments like EMI and cards. We are focused on payment volume that generates profit for us either through net payment margin or from direct upsell potential
Paytm said it disbursed 4.3 million loans in the month of July, taking the total value of loans disbursed in the month to Rs 5,194 crore, a year-on-year growth of 148 percent.
Apart from this, Paytm said that the company will stop monthly disclosure of operating metrics from September 2023 and will share disclosures on a quarterly basis.
Let us tell you that recently on July 21, Paytm released the results of the first quarter of FY 24, according to which the company had a loss of Rs 357 crore in the first quarter, which was Rs 6,444 crore in the same period last year. Much less than the loss.
Paytm's revenue from operations grew 39.4 percent to Rs 2,341 crore during the first quarter of the current financial year, as against Rs 1,679 crore in the year-ago period.
