Paytm's Gross Merchandise Value jumps by 38% at Rs 3.46 lakh cr in Q3 FY23

Paytm's Gross Merchandise Value jumps by 38% at Rs 3.46 lakh cr in Q3 FY23

The company said it continues to reign the market in offline payments with 5.8 million merchants now paying subscriptions for payment devices, while user engagement also continues to grow.

IANSUpdated: Monday, January 09, 2023, 06:22 PM IST
article-image
Paytm buys back 9.32 lakh shares on NSE for Rs 554.52 each | Image credit: Wikipedia (Representative)

Leading payments and financial services company Paytm on Monday announced its business operating performance for the third quarter in FY23, saying its robust growth continues with Gross Merchandise Value (GMV) for Q3FY23 at Rs 3.46 lakh crore.

Offline payments

The company said it continues to reign the market in offline payments with 5.8 million merchants now paying subscriptions for payment devices, while user engagement also continues to grow.

In its stock exchange filing, Paytm said that the aSuper App' continues to see growing consumer engagement for its wide array of payment and financial services.

Monthly transaction

The company's average monthly transacting users (MTU) for the quarter ended December 2022 stood at 85 million, registering a robust growth of 32 per cent (year-on-year).

"Our payments and lending business continues to scale with strong adoption by consumers and merchants. We continue to remain focussed on execution and are confident on our profitability plans,a the company said.

Paytm reached a new milestone in offline payments with 3.8 million devices added year-on-year.

Highlighting its plans for its core payments business, the company said that with a focus on creating additional payment monetization beyond MDR, its focus on subscription services continues to expand.

"With our subscription as a service model, the strong adoption of devices drives higher payment volumes and subscription revenues, while increasing the funnel for our merchant loan distribution," said Paytm.

Loan distribution business

The company's loan distribution business, in partnership with top lenders, continues to witness an accelerated growth with disbursements growing 330 per cent YoY.

Loans worth Rs 3,665 crore were disbursed in the month of December. The number of loans grew 117 per cent YoY to 3.7 million for December, and 137 per cent to 10.5 million cumulative loans for the three months, ended December 2022.

As a result, total disbursements for three months ended December 2022 was Rs 9,958 crore, a growth of 357 per cent YoY.

The total merchant GMV processed through the platform for Q3FY23 aggregated to Rs 3.46 lakh crore ($42 billion), marking a YoY growth of 38 per cent.

"Our focus over the past few quarters continues to be on payment volumes that generate profitability for us, either through net payments margin or from direct upsell potential," the company said in its stock exchange filing.

Second Quarter

In Q2FY23, Paytm reported a sustained revenue growth at Rs 1,914 crore and a sharp improvement in EBITDA before ESOP cost by Rs 108 crore QoQ.

EBITDA

The company's EBITDA (before ESOP) loss stood at Rs 166 crore, a sharp improvement of 15 per cent QoQ and Rs 259 crore YoY despite continued investments in sales, technology and marketing.

The EBITDA before ESOP cost improved by Rs 201 crore in the past two quarters, said the company.

RECENT STORIES

SIP V/S One-Time Investment: Choose The Right Path For Your Financial Goals

SIP V/S One-Time Investment: Choose The Right Path For Your Financial Goals

Busy Bee Airways Withdraws Bid For Go First

Busy Bee Airways Withdraws Bid For Go First

Income Tax Department Notifies Cost Inflation Index For Current Fiscal

Income Tax Department Notifies Cost Inflation Index For Current Fiscal

Scorching Heat & Record-Breaking Demand: India's Peak Power Soars To Nearly 240 GW On May 24

Scorching Heat & Record-Breaking Demand: India's Peak Power Soars To Nearly 240 GW On May 24

Indigo Airlines Announces Business Class On Busiest Routes Amid Strong Q4 Results

Indigo Airlines Announces Business Class On Busiest Routes Amid Strong Q4 Results