Paytm share price continued to gain for the fourth straight session as the markets opened for business on Wednesday.
What Happened: The company early Wednesday released its operating performance update for March and Q4FY23. The company’s average monthly transacting users stood at 90 million for the quarter, around 27% growth from the year-ago period.
The fintech giant in a regulatory filing said that merchant subscribers to its payment devices also increased in the month. “Number of merchants paying a subscription for payment devices has reached 6.8 million as of March 2023,” the company disclosed in the filing. The company added 4 lakh paying merchants in March and 10 lakh in the quarter.
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The company’s loan distribution business also saw robust growth in the quarter. As per the company, total disbursements through the platform for the fourth quarter grew 253% y-o-y to ₹12,554 crore. Last month’s loan disbursements stood at ₹4,468 crore up 7.5% month-over-month.
The company also saw Merchant Payment Volumes (GMV) for Q4 jump 40% YoY to reach ₹3.62 lakh crore.
Price Action: Paytm share price was up 1.24% to trade at ₹646.85 shortly after the markets opened on Wednesday.
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