Paytm says revenue run rate of its lending business touched Rs24000 crore in June

11 Jul 2022 , 12:02 PM

According to Paytm, the platform’s loan and disbursements division hit a significant milestone in June, reaching an annualized run rate of Rs 24,000 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 ending in June, the business said that customer engagement on the app is at its greatest level. This is a 49% increase year over year (YoY). “Consumer engagement for the company’s extensive payment solutions on the Paytm Super App is still rising. The MTU was 75.9 million for only the month of June, it continued.

A total of 8.5 million loans were disbursed over the three months ending in June, representing a 492 percent YoY expansion in the lending business. The company’s aggregate total loan value for the June quarter was Rs 5,554 crore, an increase of 779% YoY.

“Rapid expansion of our loan products enables us to generate a sizable profit margin. Due to the expansion of the personal loans sector specifically, we are also noticing rises in average ticket size, Paytm stated in the announcement. Paytm reported a 101% YoY rise in merchant payment volumes for the June quarter at Rs 2.96 lakh crore.

The business said that by employing a total of almost 3.8 million devices, it had reinforced its position as the market leader in offline payments. The business stated that “the high device usage also has a correlate with the growth in merchants eligible for loans via our platform.”