Loan disbursements for Paytm up nine-fold to over Rs 5,550 crore

The number of loans disbursed through our platform grew 492% y-o-y to 8.5 million loans in the quarter ending June 2022, while the value of loans disbursed grew 779% y-o-y to Rs 5,554 crore ($703 mn)

Paytm on Monday said that the value of loans disbursed through its platform grew 779 per cent, or nine-fold, year-on-year (YoY) to Rs 5,554 crore ($703 million) in the quarter ending June 2022 (Q1). Its lending and disbursements, meanwhile, touched an annualised run rate of over Rs 24,000 crore in June.

The number of loans disbursed grew 492 per cent YoY to 8.5 million loans in the quarter ending June 2022 from 1.4 million in the year-ago period. 

The company also stated that the Paytm Super App was seeing ramp up in user engagement, with the average monthly transacting users (MTU) for Q1 at 74.8 million, registering a growth of 49 per cent YoY. For the month of June alone, the MTU stood at 75.9 million

“The rapid growth of our lending products brings us an attractive profit pool. We are also seeing increases in average ticket size due to the scale-up of the personal loans business in particular,” the company said in a regulatory filing.

The total merchant GMV processed through its platform for the quarter ending June 2022 aggregated to approximately Rs 2.96 trillion ($37 billion), marking a YoY growth of 101 per cent.

“We continue to strengthen our leadership in offline payments, with deployment of 3.8 million devices at merchant stores across the country. The strong adoption of devices also has a correlation with the rise in merchants eligible for loans from our platform,” said the company.

The company’s stock price touched an intraday high of Rs 718.95 per share, up 2.83 per cent from the previous close. The company’s share closed at Rs 709.35 per share, up 1.47 per cent from the previous close.