Payments and financial services company Paytm on Saturday posted its operating business update for April 2023. In a stock exchange filing, the company said it continued to see growing consumer engagement on the 'Paytm Super App' with the average monthly transacting users for the month growing 25 per cent year-on-year to 9.2 crore, reflecting continued expansion of its customer base.
"Our leadership in payment monetization continues, as subscription services for payment devices like Soundbox and POS machines continue to see increased acceptance by merchants," the company said.
The company also said that with its subscription as a service (SaaS) model, the strong adoption of devices drove subscription revenues and higher payment volumes.
With increased engagement from consumers and merchants, the total merchant Gross Merchandise Value processed through Paytm platform for the month of April 2023 was Rs 1.27 lakh crore ($15.6 billion), marking a year-on-year growth of 34 per cent.
The number of merchants paying subscription for payment devices has reached 71 lakh as of April 2023, an increase of 3 lakh devices in the month. The Merchant Payment Volumes (GMV) for the month of April 2023 stood at Rs 1.27 lakh crore ($15.6 billion), y-o-y growth of 34 percent.
The loan distribution business (in partnership with our lender partners) gained with disbursements of Rs 4,115 crore ($503 million, y-o-y growth of 148 percent) and 41 lakh loans (y-o-y growth of 56 percent) disbursed in the month of April 2023 through the Paytm platform, the company said.
On Friday, Paytm reported a net loss of Rs 168.4 crore for the fourth quarter that ended March 31, 2023. In the corresponding quarter last year, the company posted a net loss of Rs 761.4 crore.
In the March quarter, consolidated revenue from operations stood at Rs 2,334.5 crore during the period under review, up 51.5 percent against Rs 1,540.9 crore in the corresponding period of the preceding fiscal, led by an increase in GMV, higher merchant subscription revenues, and growth of loans distributed through platform.
In the fourth quarter, across three product offerings (Paytm Postpaid, Personal Loans, and Merchant Loans), loans amounting to Rs 12,554 crore were distributed through the Paytm platform.
(Edited by : Anshul)
First Published: May 6, 2023 3:02 PM IST
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