Paytm’s revenue increased by 42 percent, faster growth in company’s loan distribution business

Paytm’s company, which provided payment services, the revenue of One97 Communications of One97 Communications increased by 42 percent to about Rs 2,062 crore. This is an increase of about eight percent on a quarterly basis. The company says that the number of consumers and the increase of merchants taking subscription service is a major reason behind this. Apart from this, the company’s loan distribution business is also growing rapidly.

The company has increased to about 22 percent from financial services, including the company’s loan distribution, to about 22 percent. Paytm Founder and CEO, Vijay Shekhar Sharma said, “This is due to our team’s hard work. The team was asked to increase growth with the quality revenue that can increase the profit. We have done all these compliances.”

Analysts say that the company may be positive on adjustable Ebitda in March. One97 Communications said that it will retain discipline about cost. The company is planning an investment in an area with the possibility of growth. These include marketing to increase the number of users. The number of consumers using Paytm app is increasing. It was about 8.5 crores in the December quarter. It has increased by about 32 percent on an annual basis. The gross merchandise value processed through Paytm’s platform in the quarter ended December was around Rs 3.46 lakh crore, which is an increase of 38 percent on a year-on-year basis.

Last year, the Enforcement Directorate (ED) sought information from Paytm regarding the investigation being conducted against some merchants. The ED had searched some complexes of One 97 Communications. In this regard, no new information was investigated in this search of the ED. The ED has sought information from various payment service providers about some merchants. The spokesperson had said, “We have provided the necessary information.” Paytm had said that the ED has not instructed to block any merchant related to her or her group’s entities. China’s Alibaba Group has a share in One 97 communication.