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Paytm says it clocked $22.4 bn in GMV in October, November
Photo Credit: VCCircle

One97 Communications Ltd., which operates brand Paytm, has processed close to $22.4 billion (or roughly Rs 1.66 lakh crore) worth of gross merchandise value (GMV) on its platform for the first two months including October and November of the third fiscal quarter (Q3 FY’21). 

This is a 129% growth year-on-year since the first two months of Q3 FY 2020, when the platform clocked GMV worth Rs 72,800 crore, Paytm informed the Indian exchanges on Monday.

In November, Paytm reported an overall gross merchandise value (GMV) of $11.2 billion (roughly ₹83,200 crore) in the month of October 2021. It reported a total GMV of Rs 1.95 lakh crore for the quarter ending September 30, 2021.

The company said loans facilitated on its platform grew to 2.7 million in the first two months of the ongoing quarter. The total value of these loans stood at roughly $178 million (or roughly Rs 13,200 crore), it said as a part of the disclosure.

“Growth momentum in GMV continues in the first two months of the quarter, due to strong performance during the festive season, which continues post festive season. GMV processed through our platform for the first two months of the quarter aggregated to approximately Rs 1,666 billion ($22.4 billion), growth of 129% Y-o-Y over the Rs 728 billion GMV in the first two months of Q3 FY 2021,” the company said in disclosures to the exchanges.

In terms of monthly transacting users (MTUs), the platform clocked 46.6 million average MTUs in the first two months of Q3 FY 2021. For the quarter ending 30 September 2021, Paytm had seen 57 million MTUs, on its platform. 

“Devices deployed reached 1.6 million in November 2021, an increase of 0.3 million devices in the first two months of the quarter: We continued to witness acceleration of deployments in our devices business. The total number of devices deployed across our merchant base has increased from 0.9 million as on June 30, 2021 to approximately 1.3 million as on September 30, 2021 to approximately 1.6 million as on November 30, 2021,” the company said on Monday as a part of market disclosures.

The share price of Paytm fell to Rs 1551 apiece by the closing bell on Monday afternoon. 

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