Paytm spurts ~5% on reporting highest monthly transacting users in Q4FY22; logs 6x growth in loan disbursals

6 Apr 2022 , 01:23 PM

One97 Communications Limited’s (Paytm) Founder and CEO Vijay Shekhar Sharma put it on record that the company has reported the highest monthly transacting users to over 70 million, adoption of 2.9 million devices by its merchants, and disbursement of over 6.5 million loans per quarter through the platform.

Company’s lending business scaled up to 6.5 million loan disbursals during the current quarter, aggregating to a total loan value of Rs3,553 crore ($474 million) during the quarter, up by 417% yoy.

The offline payments business has accelerated with 0.9 million devices deployed in Q4FY22. The total number of devices deployed YTD grew to 2.9 million.

Paytm Super App average monthly transacting users (MTU) for the quarter registered a growth of 41% yoy to 70.9 million. Company logged over 104% yoy increase in GMV for the quarter at Rs2.59 lakh crore ($34.5 billion).

Paytm stated that working in partnership with marquee lenders, it was able to scale up loan disbursement and servicing business to a great scale. RBI’s clear regulations have made this a mainstream business.

One 97 Communications is currently trading at Rs637 up by Rs27.7 or 4.55% from its previous closing of Rs609.30 on the BSE. It touched intraday high and low of Rs648.95 and Rs594.95 respectively so far.