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 â,¹24,000 crore in June, Paytm said in a statement on Monday, July 11.
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.  Â
It registered 492% growth in loan disbursal Year-on Year (YoY) and the value of loan disbursal surged by 779% y-o-y. Â
"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. Â
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.Â
Furthermore, it claimed a new record for monthly transacting users, with consumer engagement at its highest. Â
"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. Â
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. Â
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. Â
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