Digital payments and financial services firm Paytm on Sunday reported more than two-fold rise in gross merchandise value at Rs 1,95,600 crore in the second quarter that ended on September 30, according to the company’s first operating performance report for the month of October filed at BSE.
The company had recorded a gross merchandise value (GMV) of Rs 94,700 crore in the same period a year ago. Paytm refers to GMV as the value of total payments made to merchants through transactions on its app, through Paytm payment instruments or through the company’s payment solutions over a period.
It excludes any consumer-to-consumer payment services such as money transfers. The company reported a 131 per cent growth in GMV to Rs 83,200 crore in October, compared to the Rs 36,000 crore it recorded for the corresponding period last year. According to the financial metrics filed by the company, monthly transacting users or unique users on the Paytm platform increased by 33 per cent to 5.7 crore in the July-September 2021 quarter from 4.3 crore in the corresponding quarter of 2020-21.
The value of loans disbursed through Paytm increased by close to 500 per cent to Rs 1,260 crore during the second quarter of the current fiscal, compared to the Rs 210 crore it recorded in the corresponding quarter of 2020-21. Paytm reported a 418-per cent growth in loan value to Rs 630 crore in October 2021, compared to the Rs 120 crore worth of loan disbursed during the same period in the last fiscal.
The number of loans also increased multifold to 28.41 lakh during the reported quarter from 3.49 lakh in the corresponding period last year. The company will hold its first board meeting after going public on November 27 to consider and approve the financial results for the quarter and half year ended on September 30, 2021. One97 Communications Limited, Paytm’s parent company, made a weak market debut on November 18 and tumbled over 27 per cent during the day from the issue price of Rs 2,150.
The stock was listed at Rs 1,955, slipping 9 per cent from the issue price on BSE. It then tumbled 27.25 per cent to Rs 1,564 during the day. On NSE, it debuted at Rs 1,950, registering a decline of 9.3 per cent against the issue price. During the day, the stock plunged 27.34 per cent to Rs 1,562. Paytm’s Rs 18,300 crore IPO was oversubscribed 1.89 times on the last day of India’s biggest share sale last week. This was greater than miner Coal India’s Rs 15,000 crore offer a decade ago.