The company said that it is seeing increases in average ticket size due to the scale-up of the personal loans business in particular
The company recorded the growth of GMV processed through Paytm’s platform by 123% to Rs 2,501 billion or $33.6 billion, as compared to the Q3 of FY 2021.
One97 Communications Ltd, the parent company which owns and operates the brand Paytm, had recorded a GMV of Rs 72,800 crore in the corresponding period a year ago.
Macquarie has cut the target price by 36 per cent for Paytm parent company One97 Communication, which is already facing heat from RBI restrictions and investors’ wrath.
Paytm stock was down 9.25 per cent to trade at Rs 1,357.15 at 9:57 AM. Interestingly, the stock was trading close to its record low of Rs 1,271.25 touched November 22, 2021.
Paytm refers to GMV as the value of total payments made to merchants through transactions on its app, through Paytm payment instruments.
Paytm Payments Bank termed the report "completely false, inaccurate and unverified," adding that it is fully compliant with RBI’s directions on data localisation