Paytm sees 492% jump in loan disbursal YoY; stock gains 3% intraday on business update

One 97 Communications Ltd (Paytm) disbursements through its platform reported an annualised run rate of over ₹24,000 crore in June, Paytm said in a statement on Monday, July 11.

It registered 492% growth in loan disbursal Year-on Year (YoY) and the value of loan disbursal surged by 779% y-o-y. Source: PTI

One 97 Communications Ltd (Paytm) disbursements through its platform reported an annualised run rate of over ₹24,000 crore in June, Paytm said in a statement on Monday, July 11.

It registered 492% growth in loan disbursal Year-on Year (YoY) and the value of loan disbursal surged by 779% y-o-y.

"Our lending business (in partnership with top lenders) continues to witness accelerated growth with disbursements through our platform now an annualised run rate of over ₹24,000 crore in June. 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 Cr ($703 million)," Paytm said in its business update.

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Besides, the total merchant GMV processed through its platform saw a jump of 101% in the quarter ending June 2022. " The total merchant GMV processed through our platform for the quarter ending June 2022 aggregated to approximately Rs 2.96 Lakh Cr ($37 billion), marking a y-o-y growth of 101%," the company said.

Furthermore, it claimed a new record for monthly transacting users, with consumer engagement at its highest.

"We continue to achieve new records in user engagement, with the average monthly transacting users (MTU) for the quarter ending June 2022 at 74.8 million, registering a growth of 49% Y-o-Y," said Paytm in a press release.

The company also said that it is striving to strengthen its position in offline payments too with deployment of 3.8 million devices at merchant stores across the country.

Meanwhile, the stock jumped nearly three per cent as the online payment solution provider's firm came up with its business update for the June quarter. Shares of Paytm jumped 2.83% to Rs 718.95 per share in Monday's intraday trade on the BSE. On Monday's opening price, the counter is trading at nearly 64% discount from its 52-week high value of Rs 1961, which the scrip touched on November 18 last year.

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