Paytm' recorded disbursements' run rate of Rs24,000 crore in June

11 Jul 2022 , 11:31 AM

According to Paytm, the platform’s loan and disbursements division hit a significant milestone in June, reaching an annualized run rate of Rs24,000 crore. On its super app, the business also hit 76 million monthly transactional users (MTU), a record for the company.

With a monthly transacting user (MTU) of 74.8 million for the quarter ended in June, the business said that customer engagement on the app is at its greatest level. This represents a 49% increase year over year (YoY). For the company’s extensive payment capabilities, there is still increased user interaction with the Paytm Super App. The MTU was 75.9 million for just the month of June, it continued.

Additionally, the lending company expanded to 8.5 million loan disbursals overall during the quarter ended in June, representing a 492% YoY rise. For the June quarter, the company’s aggregate total loan value increased by 779% YoY to Rs5,554 crore.

“Our loan products have grown quickly, providing us with a sizable profit margin. Due to the expansion of the personal loans sector, in particular, we are also noticing rises in average ticket size, according to Paytm’s press statement.

Paytm reported a 101% YoY rise in merchant payment volumes for the June quarter at Rs2.96 lakh crore.

The business said that by employing a total of almost 3.8 million devices, they have strengthened its position as the market leader in offline payments. The company stated that “the strong device usage also has a correlate with the rise in merchants eligible for loans via our platform.”