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.
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.
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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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