Paytm has disbursed 492 pc higher loans in April-June quarter
In a BSE filing, Paytm said the loan value disbursed was Rs 5,554 crore in the quarter, about 8.7X higher than last year at Rs 632 crore.
Fintech giant on Monday said it disbursed 8.5 million loans in the first quarter ending June 2022, nearly 6X or 492 percent higher than the corresponding period a year ago.
The loan value disbursed was Rs 5,554 crore in the quarter, about 8.7X higher than last year at Rs 632 crore, Paytm said in a filing to the BSE, adding it now has an Annualised Run Rate (ARR) of over Rs 24,000 crore.
In the last couple of years, Paytm has hyperfocussed on its lending business, especially since it was listed on the stock exchange in 2021. Analysts have said that, with UPI becoming the preferred mode of payment over cards, wallets, and net banking services, Paytm's lending business is its best bet to set itself apart from the competition.
The fintech company's wide market penetration gives it a big pool to extend its lending services, and going by the numbers, there are many takers.
In its latest filing, Paytm said it is seeing an increase in the average ticket size due to the scale-up of the personal loans business.
Its merchant gross merchandise value (GMV)—the total value of merchandise sold over a given time—was Rs 2.96 lakh crore, up 101 percent.
The monthly transacting users, which measures the level of engagement on an app, rose 49 percent from the year-ago period.
The fintech company's shares were up 0.31 percent at Rs 700.45 in mid-day trading on Monday. As of Friday's close, shares have fallen 64.2 percent since Paytm's debut in November 2021.
Edited by Suman Singh