One 97 Communications gains after recording disbursals of Rs 3,665 crore in December

One 97 Communications advanced 3% to Rs 567.20 after the company's loan distribution business recorded disbursals of Rs 3,665 crore in the month of December, growing 330% YoY.

Consequently, total disbursements for three months ended December 2022 was Rs 9,958 crore, a growth of 357% YoY. The number of loans grew 117% YoY to 3.7 million for the month of December, and 137% YoY to 10.5 million cumulative loans for the three months ended December 2022.

Further, the company informed that the Consumer engagement is at its highest on Paytm Super App with average monthly transacting users (MTU) at 85 million for the quarter ended December 2022, up 32% YoY.

"With a focus on creating additional payment monetization beyond MDR, our focus on subscription services continues to expand. We continue to strengthen our leadership in offline payments, with 5.8 million merchants now paying subscription for payment devices. With our subscription as a service model, the strong adoption of devices drives higher payment volumes and subscription revenues, while increasing the funnel for our merchant loan distribution, the company said.

It further added that Merchant payment volumes (GMV) for the quarter ended December 2022 at Rs 3.46 lakh crore ($42 billion), YoY growth of 38%. The company's focus over the past few quarters continues to be on payment volumes that generate profitability for us, either through net payments margin or from direct upsell potential.

One97 Communications (OCL) is the parent entity of leading Indian mobile payments and financial services company Paytm, which is India's payment super app offering consumers and merchants most comprehensive payment services. Paytm enables commerce for small merchants and distributes various financial services offerings to its consumers and merchants in partnership with financial institutions.

On a consolidated basis, the company's revenue surged 76.2% to Rs 1914 crore in Q2 September 2022 over Q2 September 2021. Consolidated loss widened to Rs 571.10 crore in Q1 June 2022 from net loss of Rs 472.90 crore a year ago.

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