Paytm disburses loans worth Rs3,665 crore in Q3FY23; stock rallies ~2.5%

9 Jan 2023 , 01:33 PM

Paytm Limited informed that it recorded the highest consumer engagement for its Paytm Super App with average monthly transacting users (MTU) at 85 million for the quarter ended December 2022, up 32% y-o-y.

Our focus on subscription services is expanding as we work to create additional payment monetization beyond MDR, stated the company in its media release.

The number of merchants paying subscription fees for payment devices had increased to 5.8 million as of December 2022, with 1 million devices added in the quarter ended December 2022.

It disbursed Rs3,665 crore worth of loans in the month of December. The number of loans increased 117% y-o-y to 3.7 million in December, and 137% y-o-y to 10.5 million for the three months ended December 2022.

Merchant payment volumes (GMV) for the quarter ended December 2022 were Rs3.46 lakh crore ($42 billion), representing a 38% increase year on year.

Strong device adoption drives higher payment volumes and subscription revenues with our subscription as a service model, while also expanding the funnel for merchant loan distribution, said Paytm on Monday.

At around 1.29 PM, Paytm was trading 2.28% higher at Rs563.90, against the previous close of Rs551.35 on NSE. The counter touched an intraday high and low of Rs574.50 and Rs562 respectively.

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