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 (for three months ended June 2023).

“We continue to build partnerships with large NBFCs and Banks. We currently have 7 active lending partners and we aim to onboard 3-4 partners in FY 2024. On 30 June 2023, we announced loan distribution partnership with Shriram Finance.” The company stated in exchange filing.

Number of merchants paying subscription for payment devices has reached 79 lakh as of June 2023, an increase of 4 lakh devices in the month and 11 lakh devices in the quarter. Merchant Payment Volumes (GMV) for quarter (for three months ended June 2023) stood at Rs 4.05 Lakh crore ($49.3 billion), YoY growth of 37%.

The Paytm Super App continues to see growing consumer engagement with the average MTU for the quarter (for three months ended June 2023) at 9.2 crore, registering a growth of 23% YoY.

“We continue to strengthen our leadership in offline payments, with 79 lakh merchants now paying subscription for payment devices, an increase of 11 lakh devices in the quarter. 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.