Paytm logs highest-ever monthly loan disbursals in Feb 22

15 Mar 2022 , 09:48 AM

One97 Communications Ltd. (Paytm), an Indian e-commerce and fintech company, has logged a growth of 449% yoy as the company’s loan disbursal business scales to 4.10 million loans during the first two months of the quarter. Let alone in February, the company has disbursed approximately 2.2 million loans. The company’s total loan value aggregates to Rs2,095 crore, registering a growth of 366% yoy.

In its press release, the fintech operator informed that it witnessed sustainable growth in the payments business.

User engagement continues to rise rapidly with average monthly transacting users at 69.5 million, registering a growth of 41% yoy. Its offline business accelerated, as of February 2022 total devices deployed by the company stood at 2.6 million devices.

GMV for the first two months of the quarter stood at Rs1,65,333 crore, with a growth of 105% yoy. GMV is the value of total payments made to merchants through transactions on all apps supported by the company.

Paytm also stated that the measures imposed upon PPBL will not have any material impact on Paytm’s business as this direction does not have an impact on the services that Paytm provides in partnership with other financial services.

One 97 Communications is currently trading at Rs629.90 down by Rs45.45 or 6.73% from its previous closing of Rs675.35 on the BSE. The scrip opened at Rs695 and has touched an intraday high and low of Rs702.10 and Rs616.55 respectively.