Paytm shares in focus as Merchant Payment Volumes rise 39% in July

One 97 Communications Ltd, the parent of fintech firm Paytm, on Thursday shared its operating performance for July 2023, which showed the firm's Merchant Payment Volumes rise 39%.

"Average monthly transacting users (MTU) stood at 9.3 crore for the month of July 2023, up 19% y-o-y, reflecting continued expansion of our customer base. Our leadership in payment monetisation continues with the launch of two new innovative devices – Paytm Pocket Soundbox and Paytm Music Soundbox. Number of merchants paying subscription for payment devices has reached 82 lakh as of July 2023, an increase of 3.8 lakh devices in the month," said Paytm.

Merchant Payment Volumes (GMV) for the month of July 2023 stood at Rs 1.47 lakh crore, an annual growth of 39%, said Paytm in a stock exchange filing on Thursday.

On Thursday, Paytm's scrip on BSE closed 1.2% lower at Rs 767.35.

Paytm said its loan distribution business continues to gain scale with disbursements of Rs 5,194 crore ($632 million, an annual growth of 148% and 43 lakh loans (growth of 46% on an annual basis) disbursed in the month of July 2023 through its platform.

Paytm shares fell 8.3% in the last one month and its 52-week high is at Rs 915 while the 52-week low is Rs 439.6.