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Paytm’s October-November GMV Grows 129% To INR 1.66 Lakh Cr

Paytm’s October-November GMV Grows 129% To INR 1.66 Lakh Cr

Its GMV during the first two months of Q3FY21 was INR 72,800 Cr

Paytm also witnessed robust growth in its usage for everyday payments during October-November

Last month it reported a 63.6% rise in its revenue from operations for July-September

Digital payments giant Paytm’s gross merchandise value (GMV) for the October-November period of FY22 stood at INR 1.66 Lakh Cr, registering a growth of 129% compared to the same period of the last financial year (FY21).

Its GMV during the first two months of Q3FY21 was INR 72,800 Cr.

In a regulatory filing today, the recently listed company said that the number of loans through its platform increased by 414% on a year-on-year (YoY) basis to 27 Cr loans in the first two months of the quarter. Value of loans disbursed through the platform increased by 375% year-on-year to Rs 1,320 Cr ($178 Mn) in the first two months of the quarter. 

The company said that it witnessed growth in loan disbursal across lending products including Paytm Postpaid, Personal Loans and Merchant Loans. On November 26, 2021, it launched a new credit card in partnership with HDFC Bank, further to the announcement of its partnership in September 2021.

It also witnessed robust growth in the usage of Paytm for everyday payments. 

“Our monthly transacting users (MTU) consistently grew in FY 2021 and in the first two quarters of FY 2022 and the trajectory has continued in the the third quarter of FY 2022 with 63.2 Mn (6.32 Cr) average MTUs in the first two months of the quarter, growth of 36% year-on-year over the 46.6 Mn (4.66 Cr) average MTUs in the first two months of Q3 FY 2021,” it said.

It also continued to witness acceleration of deployments in its devices business. The total number of devices deployed across its merchant base has increased from 9 Lakh as on June 30, 2021 to around 16 Lakh as on November 30, 2021.

On November 27th, 2021, NCR-based One97 Communications, which owns Paytm reported a 63.6% increase in its revenue from operations during the July-September quarter at INR 1,086.4 Cr.

The fintech giant had attributed the jump in revenue to a 52% growth in non UPI payment volumes (GMV) and more than three-times growth in financial services and other revenue.

Its net losses for the second quarter of FY22, however, widened by 8.42% to INR 473.5 Cr during July-September quarter, from INR 436.7 Cr reported a year ago.

Its shares made a weak debut on the domestic stock exchanges on November 18th, 2021,  after offering India’s largest IPO worth INR 18,300 Cr, largely amid profitability and valuation concerns.

Around 12.40 p.m, its shares on the BSE were trading at INR 1,562.90, lower by INR 3.75 or 0.24% from its previous close. Currently, its market cap stands INR 1.01 Lakh Cr.