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Paytm GMV up in Oct as festive-time spends rise
Photo Credit: VCCircle

One97 Communications Ltd, the parent company that owns and operates brand Paytm, reported an overall gross merchandise value (GMV) of `832 billion (roughly $11.2 billion) in October, the company said on Sunday evening.

Overall GMV for One97 Communications grew to `1,956 billion during the quarter ending 30 September 2021, a 107% growth from the previous fiscal quarter ending June 2021.

The board of One97 Communications is expected to meet on 27 November to consider the unaudited standalone and consolidated financial results of the company, it said as a part of public disclosures.

“In keeping with our disclosures in the prospectus, the growth momentum in GMV continued in October 2021 driven by festive season spends, and an increase in the number of merchants and consumers, adoption of new products, transactions for both online and in-store merchants, and in deployed devices. GMV processed through our platform for October 2021 aggregated to about `832 billion , a growth of 131% over October 2020,” the company said in its disclosures with the stock exchanges.

Paytm’s monthly transacting users grew by 35% year-on-year to 63 million in October. It had reported 47 million monthly users in October 2020. The average monthly active users for Q2FY22 stood at 57 million, the company reported on Sunday.

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