Paytm disburses loans worth Rs3,928 crore in January; stock zooms ~6%

8 Feb 2023 , 10:59 AM

Paytm announced its operating performance for the month of January 2023. The company has deployed 6.1 million devices during the month.

Company registered continued growth in the loan distribution business with disbursements of Rs3,928 crore ($480 million, a 327% yoy increase) and 3.9 million loans, registering a 103% year-on-year increase in January 2023.

Paytm witnessed continued consumer base expansion, with average monthly transacting users (MTU) at 89 million in January 2023, up 29% year on year.

As we work to create additional payment monetization, we are increasing our focus on subscription services. The number of merchants paying subscription fees for payment devices has increased by 0.3 million in one month to 6.1 million, said Paytm in its media release.

Company reported a 44% yoy growth in merchant payment volumes (GMV) for January 2023 at Rs1.2 lakh crore ($15 billion).

Paytm said that its payments consumer and merchant base provide a large addressable market, resulting in a long growth runway. We will continue to collaborate with our partners to ensure the book’s quality.

At around 10.45 AM, Paytm was trading 5.84% higher at Rs623.20, against the previous close of Rs588.60 on NSE. So far, the counter touched an intraday high and low of Rs648.55 and Rs617.10 respectively.

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