Paytm’s loan distribution business continues to scale, with the disbursals during the quarter ended September 2022 growing to 9.2 million, up 224 per cent on a year-on-year basis from 2.84 million disbursed in September 2021 quarter.
In value terms, loan disbursements saw a 482 per cent increase to ₹7,313 crore in September 2022 quarter from ₹1,257 crore in same quarter last year, Paytm’s latest operating performance update filed with the stock exchanges showed.
“Our loan distribution business (in partnership with top lenders) continues to witness accelerated growth with disbursements through our platform now at an annualised run rate of ₹34,000 crore in September.
We continue to see growth and upsell opportunities in this business while we work with our partners to remain focused on the quality of the book”, Paytm’s update said.
One97 Communications, the owner of Paytm, is presently commanding a valuation of ₹43,500 crore and was listed in November last with a market capitalisation of ₹1.4 lakh crore..
Consumer engagement
Meanwhile, consumer engagement is at its highest on Paytm Super-App with average monthly transacting users (MTU) at 79.7 million for the quarter ending September 2022, up 39 per cent y-o-y.
There has also been a 63 per cent year-on-year increase in merchant payment volumes (GMV) for the quarter that ended September 2022 at ₹3.18 lakh crore ($39 billion).
Paytm also continues strengthening its leadership in offline payments, deploying 4.8 million devices at merchant stores across the country.
“With our subscription as a service model, the strong adoption of devices drives higher payment volumes, and subscription revenues, while increasing the funnel for our merchant loan distribution”, Paytm said.
Paytm had, on August 5 this year, reported a consolidated loss of ₹645.4 crore for the quarter ended June 2022, against a loss of ₹382 crore logged in the corresponding quarter of the previous fiscal.