Mumbai: Paytm on Sunday released its business number for the quarter that ended September 2021, where it was said that loans had multiplied from the previous three months – both of them, in terms of value and number.
According to an exchange archiving, the number of monthly transaction users in the application rose to 5.7 crores in the quarter ended September, which was an increase of 70 lakh (14%) of 5 crores in the April-June period this year.
Disclosures came three days after the company was registered on November 18 and reflected pickup in business after ebbing the second wave of pandemic.
After floating the biggest initial public offering (IPO) of RS 18,300 Crore, the company’s shares immediately beat.
They fell 27% to close on a lower circuit, record the worst debut by any company with an IPO size of more than RS 1,000 Crore.
In terms of numbers, the company channeled more than 28 lakh loans in the second quarter of this year – more than twice the 14.3 lakh loan disbursed in the first quarter (see graph).
Year-years, this increase is more than 700% of the loan of nearly 3.5 lakh clock in the quarter ends September 2020.
“In accordance with our disclosure in the prospectus, the growth momentum in the value of gross merchandise (GMV) continues in October 2021, Driven by celebration season shopping and an increase in the number of traders & consumers, adoption of new products, transactions for online traders & in stores, and on the device deployed, “said the company in its archiving.
GMV is defined as the total value of payments made for traders through transactions on the PayTM application, through paytm payment instruments or through the company’s payment solution, during the period.
This does not include consumer-to-consumer payment services such as money transfers.
GMV processed through the Paytm platform for October 2021 was collected to around Rs 83,200 Crore, 131% growth during October 2020.
For the second quarter, GMV was Rs 1,95,600 Crores – up 33% from the previous quarter.
In the year-year, GMV rose 100%.