Paytm's loan disbursements jump 482% y-o-y at Rs7,313 crore in Q2FY23; stock rises

10 Oct 2022 , 09:18 AM

Paytm announced its operating performance for the second quarter ended September 30, 2022.

Company’s loan distribution business (in collaboration with leading lenders) continues to expand rapidly, with disbursements through its platform already at an annualised run rate of Rs34,000 crore in September.

In the quarter ending September 2022, the number of loans disbursed increased 224% y-o-y to 9.2 million loans, while the value of loans disbursed increased 482% y-o-y to Rs7,313 crore ($894 million).

“We continue to see growth and upsell prospects in this industry while working with our partners to keep the book’s quality in mind,” said the company in its media release.

Paytm’s offline payment leadership continues to grow, deploying 4.8 million devices in merchant outlets throughout the country. The significant use of smartphones provides larger payment volumes and subscription revenues with its subscription-as-a-service model while also widening the funnel for merchant loan distribution.

Consumer engagement with the Paytm Super App for the company’s complete payment capabilities remains high. It continues to boost user engagement, with the average MTU for the quarter ending September 2022 standing at 79.7 million, a 39% increase y-o-y.

The total merchant GMV handled by Paytm for the quarter ending September 2022 totalled Rs3.18 lakh crore ($39 billion), representing a 63% increase yoy.

At around 9.20 AM, Paytm was trading at Rs712.50 up by 0.66% from its previous closing of Rs707.85 on the BSE. The scrip opened at Rs705.05 and touched intraday high and low of Rs713.65 and Rs702.45 respectively.

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