What's Going On With Paytm Shares Today?

Shares of Paytm were trading higher in early trade on Monday after the company released its operational updates for the month of April and May.

What Happened: The company’s Average Monthly Transacting Users (MTU) stood at 9.2 crore in the April-May period up 24% from the 7.4 crore MTU it reported in the same period last year. The payment giant also said that it added 4 lakh new subscribers to its merchant payment soundbox service in May 2023. As of May 2023, the service has a total of 75 lakh paid subscribers.

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The total merchant gross merchandise volume processed through its platform in the April-May period was ₹2.65 lakh crore, marking a year-over-year growth of 35%.

The company’s loan distribution business (in partnership with large lenders) saw massive growth as total disbursements through the platform for the quarter to date (for Apr & May) grew 169% YoY to ₹9,618 crore. The tech startup currently has 7 lending partners and aims to onboard 3-4 partners in FY24 (April 2023 – March 2024).

Price Action: Paytm share price was up 0.063% to trade at ₹717.45 in the early hours of trading on Monday.

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