Digital payments and financial services firm Paytm on Monday reported over two-fold rise in its gross merchandise value to about Rs 1,66,600 crore in the first two months of the third quarter of this fiscal, driven by sharp uptick in loan disbursals.
One97 Communications Ltd, the parent company which owns and operates brand Paytm, had recorded GMV (gross merchandise value) of Rs 72,800 crore in the corresponding period a year ago. Paytm refers to GMV as the value of total payments made to merchants through transactions on its app, through Paytm payment instruments or through its payment solutions, over a period. It excludes any consumer-to-consumer payment services such as money transfers.