Paytm said that its loan distribution business (in partnership with large lenders) continues to witness robust growth with total disbursements through our platform for the quarter to date (for Apr & May).

“We continue to see growth in distribution of postpaid and personal loans. We have partnered with large NBFCs and Banks and we continue to focus on quality of loans distributed through our platform. We currently have 7 lending partners and we aim to onboard 3-4 partners in FY 2024.” The company said.

Number of merchants paying subscription for payment devices has reached 75 lakh, increase in 4 lakh in the month of May 2023. Merchant payment volumes (GMV) for the quarter to date (April & May 2023) was at Rs 2.65 lakh crore ($32.1 billion), year on year growth of 35%. The company said that it focus over the past few quarters continues to be on payment volumes that generate profitability for us, either through net payments margin or from direct upsell potential.

The Paytm Super App continues to see growing consumer engagement with average monthly transacting users for the quarter to date (for April & May) at 9.2 crore, registering growth of 24% year on year.

“We continue to strengthen our leadership in offline payments, with 75 lakh merchants now paying subscription for payment devices, an increase of 4 lakh in the month of May 2023. With our subscription as a service model, the strong adoption of devices drives subscription revenues and higher payment volumes, while increasing the funnel for our merchant loan distribution.” The company stated in regulatory filing.

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 a consolidated net loss of Rs 167.5 crore in Q4 FY23, which is significantly lower as compared with a net loss of Rs 762.5 crore in Q4 FY22. Consolidated revenue from operations for the quarter under review surged by 51% YoY to Rs 2,334 crore.

The scrip fell 0.07% to Rs 717.05 on the BSE.