Paytm said, “We continue to work with our partners to ensure superior credit quality for loans distributed through us. To ensure that portfolio performance of our lending partners improves despite economic uncertainties, our credit disbursement growth will be deliberately calibrated over the next quarter or two.”

Number of merchants paying subscription for payment devices has reached 82 lakh, an increase of 3.8 lakh in the month of July 2023. The total merchant gross merchandise value (GMV) for July 2023 was at Rs 1.47 lakh crore ($17.9 billion), year on year growth of 39%. The company said that it's focused on payment volumes that generate profitability, either through net payments margin or from direct upsell potential.

The Paytm Super App had average monthly transacting users for the July 2023 month at 9.3 crore, registering growth of 19% year on year, reflecting continued expansion of its customer base.

One 97 Communications is the digital financial services firm which operates under the Paytm brand. Paytm is India's payment super app offering consumers and merchants comprehensive payment services.

The company reported reported a consolidated net loss of Rs 357 crore in Q1 FY24 as against a net loss of Rs 644.40 crore posted in Q1 FY23. Revenue from operations jumped 39.4% YoY to Rs 2,341.60 crore in the quarter ended 30 June 2023.