Journalism of Courage
This is an archive article published on June 5, 2023
Paytm’s loan disbursals jump 169% to Rs 9,618 crore in April and May
Paytm said, "We currently have 7 lending partners and we aim to onboard 3-4 partners in FY 2024."
Paytm said its consumer base with average monthly transacting users (MTU) expanded 24 per cent YoY for the quarter to date (for April & May 2023) to 9.2 crore. (File image)
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Paytm’s loan disbursals jump 169% to Rs 9,618 crore in April and May
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Paytm’s loan disbursals in the first two months of FY2023 (April & May) jumped 169 per cent year-on-year to Rs 9,618 crore ($1.2 billion), its parent company One97 Communications said in a regulatory filing on Monday. In the same period last year, Paytm’s loan disbursals stood at Rs 3,576 crore.
In the same period, Paytm’s total number of loans jumped 54 per cent to 85 lakh, from 5.5 million in the same period last year.
Paytm said, “We continue to see growth in distribution of Postpaid and Personal Loans. We have partnered with large NBFCs and Banks and we continue to focus on quality of loans distributed through our platform. We currently have 7 lending partners and we aim to onboard 3-4 partners in FY 2024.”
The fintech company’s consumer base with average monthly transacting users (MTU) expanded 24 per cent YoY for the quarter to date (for April & May 2023) to 9.2 crore. Paytm’s average MTU in the same period last year was 7.4 crore.
The company, in the filing, said, “We continue to strengthen our leadership in offline payments, with 75 lakh merchants now paying subscription for payment devices, an increase of 4 lakh in the month of May 2023.”
Paytm’s number of merchants paying a subscription for payment devices jumped 118 per cent to 75 lakh from 34 lakh in May 2022.
The fintech’s Merchant Payment Volumes (GMV) for the quarter to date jumped 35 per cent YoY to Rs 2.65 lakh crore, from 1.96 lakh crore.
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At the time of writing, Paytm’s shares were trading 0.40 per cent lower at Rs 714.70 on the BSE.
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