Paytm Q1 Updates: More than 50% growth in the number of loan disbursements; average monthly transacting users up by more than 20%

Paytm said its focus over the past few quarters has been on payment volumes that generate profitability for it, either through net payment margin or from direct upsell potential. (Image: Reuters)

Paytm in its recent filing said that the company has witnessed an expansion of its consumer base with average monthly transacting users (MTU) at 9.2 crore for the quarter (average for the three months ended June 2023), up 23 per cent YoY. "Our focus over the past few quarters continues to be on payment volumes that generate profitability for us, either through net payments margin or from direct upsell potential," said Paytm. One97 Communications Ltd, the parent company of Paytm, also highlighted in its filing on Wednesday that its merchant payment volume (GMV) for the June quarter witnessed a jump of 37 per cent Year-on-Year (Y-o-Y) to Rs 4.05 lakh crore.

There has been a considerable growth in the amount and number of loans disbursed by Paytm. The company has disbursed loans worth Rs 14,845 crore through the Paytm platform; thereby, the amount of loans disbursed rose by 167 per cent YoY. A total of 1.28 crore loans, up 51 per cent YoY, were distributed during the quarter, it said in a BSE filing. Besides, Paytm deployed 79 lakh devices for the quarter.

Paytm said its focus over the past few quarters has been on payment volumes that generate profitability for it, either through net payment margin or from direct upsell potential.

TRENDING NOW

The share price of the company opened at Rs 851 on Wednesday and touched a day-high of Rs 862.

"MoM loan distribution trend in June reflects the higher disbursal in May, which included pent-up demand for merchant loans from April due to one of our partners not disbursing as they were upgrading their systems. Our focus remains on asset quality by continuously reviewing cohort data with our partners and tightening credit policy wherever needed proactively. This reflects in the growth of the value of loans distributed in the quarter," the company mentioned in its filing with BSE.

Also Read: Q1 Updates: From Bajaj Finance to Bandhan Bank; here is how the financial sector is performing this quarter

TAGS:

Paytm