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The value of the loans disbursed was Rs 2,095 crore, an increase of 366% YoY. Gross Merchandise Value (GMV) processed through the Paytm platform during first two months aggregated to approximately Rs 1,65,333 crore, registering an increase of 105% YoY. GMV is the merchant payments processed through all instruments (Paytm Wallet, Paytm Payments bank account, other banks netbanking, credit and debit cards, UPI etc).
Average monthly transacting users (MTU) in February 2022 were 69.5 million, growth of 41% YoY. Patym said offline payments business also saw acceleration with number of devices deployed growing to 2.6 million.
Shares of Paytm slumped 8.43% to Rs 618.40 on BSE in early afternoon trade. The counter hit a record low of Rs 616.55 in intraday today. The stock has lost 20% in two trading sessions after Reserve Bank of India (RBI) directed Paytm Payments Bank to stop, with immediate effect, onboarding of new customers. The action by the RBI is based on certain “material supervisory concerns" and the restrictions will continue pending a comprehensive audit of its information-technology systems, the central bank said in a statement on Friday.
Shares of Vijay Shekhar Sharma led company have seen sustained selling pressure since listing on bourses on 18 November 2021. The counter has declined 71.2% from its issue price of Rs 2,150.
Paytm is one the largest payments platform in India based on the number of consumers, number of merchants, number of transactions and revenue ended March 2021.
One 97 Communications (Paytm) reported a consolidated net loss of Rs 778.50 crore in Q3 FY22, higher than net loss of Rs 535.50 crore in Q3 FY21. Consolidated net sales jumped 88.6% to Rs 1,456.10 crore in Q3 FY22 over Rs 772 crore in Q3 FY21.
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