Paytm's stock rises as merchant payment volumes jumps 72% y-o-y for July-August 2022

6 Sep 2022 , 12:41 PM

One97 Communications Limited (Paytm) disclosed its operating performance for July-August 2022 and has reported continued growth in its payments and credit business.

Company’s Loan distribution business expands to 6.0 million loan disbursals in the two months ended August 2022 (a 246% year-on-year increase), totaling Rs4,517 crore ($568 million), registering a 484% y-o-y growth.

Its Consumer engagement is at an all-time high on the Paytm Super-App, with an average monthly transacting user (MTU) of 78.8 million for the two months ending August 2022, a 40% increase y-o-y.

Paytm’s Merchant payment volumes (GMV) increased 72% y-o-y for the two months ending August 2022, reaching Rs2.10 Lakh crore ($26 billion).

“We continue to work with our partners to assess the changing macroenvironment, and as a result, some deceleration in our growth is to be expected. Having said that, Paytm continues to see plenty of growth and upsell prospects in this sector and is concentrating on the book’s quality,” stated company in a corporate filing.

The total number of devices deployed in the offline payments market now exceeds 4.5 million. Strong device adoption delivers better payment volumes, subscription revenues, and merchant loan distribution with Paytm’s subscription as a service model.

At around 12.43 PM, Paytm was trading at Rs713.50 apiece, up by 0.69% from its previous closing of Rs708.60 on BSE. The scrip touched intraday high and low of Rs724.75 and Rs711.05 respectively.

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