Paytm’s revenue increased by 42 percent, rapid growth in the company’s loan distribution business.

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

The share of revenue from financial services including loan distribution of the company in the total revenue has increased to about 22 percent. Vijay Shekhar Sharma, Founder and CEO of Paytm, said, “This is due to the hard work of our team. The team was asked to drive growth with quality revenue which can lead to increased profits. We have achieved all this compliance. “Done while completing it.”

Analysts say the company may turn positive on adjusted EBITDA in March. One97 Communications said that it will maintain cost discipline. The company is planning to invest in areas with growth potential. These include marketing to increase the number of users. Paytm The number of consumers using the app is increasing. In the December quarter it was around Rs 8.5 crore. There has been an increase of about 32 percent on annual basis. The gross merchandise value processed through Paytm’s platform was about Rs 3.46 lakh crore in the quarter ended December, a growth of 38 per cent on a year-on-year basis.

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