Paytm claims $22.4bn GMV clocked in October & November

CIOReviewIndia | Monday, 13 December 2021, 10:58 IST

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One97 Communications Ltd., which operates the Paytm brand, has processed close to $22.4 billion (or roughly ₹1.66 lakh crore) worth of gross merchandise value (GMV) on its platform for the first two months – October and November – of the third fiscal quarter (Q3 FY21).

This is a 129% growth year-on-year since the first two months of Q3 FY 2020, when the platform clocked GMV worth ₹72,800 crore, Paytm informed the Indian exchanges on Monday.

Earlier in November, Paytm had reported an overall GMV of $11.2 billion (roughly ₹83,200 crore) in the month of October 2021. It had reported a total GMV of ₹1.95 lakh crore for the quarter ending September 30, 2021.

Along with this, the company said that loans facilitated on its platform also grew to 2.7 million in the first two months of the ongoing quarter. The total value of these loans stood at roughly $178 million (or roughly ₹13,200 crore), it said as a part of the disclosure.

“Growth momentum in GMV continues in the first two months of the quarter, due to strong performance during the festive season, which continues post-festive season. GMV processed through our platform for the first two months of the quarter aggregated to approximately ₹1,666 billion ($22.4 billion), growth of 129% Y-o-Y over the ₹728 billion GMV in the first two months of Q3 FY 2021," the company said in disclosures to the exchanges.

In terms of monthly transacting users (MTUs), the platform clocked 46.6 million average MTUs in the first two months of Q3 FY 2021. For the quarter ending 30 September 2021, Paytm had seen 57 million MTUs, on its platform.

“Devices deployed reached 1.6 million in November 2021, an increase of 0.3 million devices in the first two months of the quarter: We continued to witness the acceleration of deployments in our devices business. The total number of devices deployed across our merchant base has increased from 0.9 million as of 30 June 2021 to approximately 1.3 million as of 30 September 2021 to approximately 1.6 million as of 30 November 2021," the company said on Monday as a part of the market disclosures.

The share price of Paytm fell to ₹1,552 apiece by the closing bell on Monday afternoon.

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