PayTM jumps after good performance update

16 May 2022 , 10:51 AM

Paytm said its lending business saw a total disbursal of 2.6 million loans in April 2022, a y-o-y growth of 449%. This aggregates to a total loan value of Rs 1,657 crore during the quarter, y-o-y growth of 749%. This translates into an annualised run-rate of approximately Rs 20,000 crore. Offline payments business accelerated as total number of devices deployed jumped to to 3.2 million with 0.3 million devices deployed in April 2022. The company expects this growth to contribute to a rise in the number of merchants eligible for loans. The total merchant Gross Merchandise Value (GMV) processed through the platform during the month of April 2022 aggregated to approximately Rs 0.95 lakh crore, marking a y-o-y growth of 102%. User engagement on Paytm Super App showed continued growth, with monthly transacting users (MTU) at 73.5 million in April 2022, up 44% y-o-y. P<> Paytm is one the largest payments platform in India based on the number of consumers, number of merchants, number of transactions and revenue ended March 2021. On a consolidated basis, Paytm reported a net loss of Rs 778.50 crore in Q3 FY22, higher than net loss of Rs 535.50 crore in Q3 FY21. Net sales jumped 88.6% to Rs 1,456.10 crore in Q3 FY22 over Rs 772 crore in Q3 FY21. The companys board will consider Q4 results on 20 May 2022. Powered by Capital Market – Live News