Paytm sees more than 3X loan disbursals in the September quarter
For the quarter Paytm’s total merchant GMV (Gross Merchandise Value) stood at Rs3.18 marking a growth of 63 percent from the corresponding period a year ago.ni
Paytm's loan distribution business grew at an annualised run rate of Rs 34,000 crore in September, according to the company's official release.
According to the latest data for the July-September quarter, the number of loans disbursed stood at 9.2 million loans, a growth of 224 percent from the corresponding period a year ago. The value of loans disbursed grew 482 percent from the corresponding period a year ago and stood at Rs 7,313 crore.
“We continue to see growth and upsell opportunities in this business while we work with our partners to remain focused on the quality of the book," Paytm’s parent company, One 97 Communications, said in a regulatory filing,
Furthermore, the company said it continued to strengthen its leadership in offline payments, deploying 4.8 million devices at merchant stores across the country.
“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,” added the regulatory filing.
As part of its comprehensive payment offerings, Paytm Super App has also experienced heightened consumer engagement.
“We continue to drive user engagement, with the average MTU (Monthly Transacting Users) for the quarter ended September 2022 at 79.7 million, registering a growth of 39 percent YoY," said the company
For the quarter, Paytm’s total merchant GMV (Gross Merchandise Value) stood at Rs 3.18 lakh crore, marking a growth of 63 percent from the corresponding period a year ago.
At 9:37 am, shares of Paytm were trading at Rs 711, up by 0.6 percent from the previous close on the BSE.
First Published: Oct 10, 2022 10:01 AM IST
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