"Our loan distribution business (in partnership with large lenders) continues to witness healthy growth with total loans distributed through our platform for the quarter to date (for Jul & Aug)." The company stated in regulatory filing.

Paytm said it continues to strengthen its leadership in offline payments, with 87 lakh merchants now paying subscription for payment devices, an increase of 42 lakh devices in the past 12 months and 5 lakh devices in the month of August. With its subscription as a service model, the strong adoption of devices drives subscription revenues and higher payment volumes, while increasing the funnel for its merchant loan distribution.

The total merchant GMV processed through its platform for quarter to date (for Jul & Aug) was Rs 3.0 Lakh crore ($36.3 billion), growing 43% y-o-y. The company said, “We continue to see increase in GMV of non-UPI instruments like EMI and cards. Growth in payments volumes drives profitability for us, through net payments margin and / or from direct upsell potential.”

Average monthly transacting users (MTU) stood at 9.4 crore for quarter to date (average for July & August 2023) up 20% YoY, reflecting continued expansion of our 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.