Paytm reports 37% YoY rise in GMV in Q1; shares rally 3%

Shares of fintech One 97 Communications, which runs the payments platform Paytm, on Wednesday rose 3% to Rs 861.9 on BSE after it said that its GMV rose 37% YoY in the June quarter while the average monthly transacting users went up by 23% YoY.

“The total merchant GMV processed through our platform for the quarter (for three months ended June 2023) was Rs 4.05 lakh crore ($49.3 billion), marking a YoY growth of 37%,” Paytm said in a quarterly business update. GMV stands for gross merchandise value.