Paytm said, “Consumer engagement is at its highest on Paytm super app with average monthly transacting users at 79.7 million for the quarter, up 39 percent YoY.”
Shares of Paytm parent One 97 Communications opened one percent higher on October 10 as the company said it disbursed 9.2 million loans during the quarter ended September, recording 224 percent year-on-year growth. This translates to loan disbursements worth of Rs 7,313 crore, growth of 482 percent YoY.
At 9:30 am, the stock was quoting at Rs 712.75 on the National Stock Exchange.
In an exchange filing, the company informed, “Consumer engagement is at its highest on Paytm super app with average monthly transacting users at 79.7 million for the quarter, up 39 percent YoY.”
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“The total gross merchandise value (GMV) processed through our platform for the quarter aggregated to Rs 3.18 lakh crore, marking a YoY growth of 63 percent,” Paytm added.
The stock remains in the eye of the storm as its lock-in period for pre-initial public offering investors ends on November 18. It has declined 46 percent in 2022 so far and is down 55 percent since listing.
Meanwhile, analysts remain positive on the stock. For Q2FY23, Yes Securities is estimating overall growth in revenue from operations of 15.3 percent QoQ based on segmental assumptions. “We arrive at total expenses (ex PPC) growth of 10 percent QoQ, compared with 8 percent in Q1FY23, resulting in EBITDA margin of ?30.8 percent, an improvement of 698 basis points QoQ,” the firm noted.
Goldman Sachs said that, despite facing headwinds and valuation contraction, Paytm’s business model continues to show strong traction. It added that within its internet coverage, it views Paytm as one of the most compelling growth stories at an attractive price. Manish Adukia, an analyst at Goldman Sachs who wrote a report that published on September 22, said his earnings estimates are currently 5 and 24 percent ahead of consensus on FY25 revenue and adjusted EBITDA, respectively.
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