Paytm shares operating performance for May; disbursements at Rs 5,502 crore

One 97 Communications (Paytm) on Monday said it continued to expand its consumer base in May and that it made a disbursements of Rs 5,502 crore for the month through Paytm platform. Paytm said 75 lakh merchants are now paying subscription for its payment devices, up 4 lakh in May, adding that its average monthly transacting users (MTU) rose 24 per cent YoY at 9.2 crore for quarter-to-date (average for April and May). Merchant Payment volumes (GMV) for quarter to date stood at Rs 2.65 lakh cr or $32.1 billion, up 35 per cent YoY.

Paytm said its focus over the past few quarters continues to be on payment volumes that generate profitability, either through net payments margin or from direct upsell potential.

Paytm said it continued to see growth in distribution of postpaid and personal Loans. It noted that it has partnered with large NBFCs and banks and continue to focus on quality of loans distributed through its platform. Paytm currently has 7 lending partners and it aims to onboard 3-4 partners in FY24.

"Continued scale in our loan distribution business with disbursements of Rs 9,618 crore ($1.2 billion, YoY growth of 169 per cent) and 85 lakh loans (YoY growth of 54 per cent) distributed in the quarter to date (for April & May 2023)," it said.

Paytm added: " Our leadership in payment monetisation continues, as subscription devices for payment devices like Soundbox and POS machines continue to see increased acceptance by merchants. Number of merchants paying subscription for payment devices has reached 75 lakh as of May 2023, an increase of 4 lakh devices in the month.

Paytm shares were trading 1.04 per cent higher at Rs 725 in pre-open deals.

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