Digital financial services firm Paytm’s loan disbursement surged nearly ninefold to Rs 5,554 crore from 84.78 lakh transactions in the April-June quarter, hitting an annualized run rate of Rs 24,000 crore, the company said in a BSE filing.
The company had disbursed 14.33 lakh loans worth Rs 632 crore during the period a year ago.
“Our lending business (in partnership with top lenders) continues to experience accelerated growth with disbursements through our platform maintaining an annualized execution rate of over Rs 24,000 crore in June. The number of loans disbursed through our platform increased by 492% year-on-year to 8.5 million loans in the quarter ending June 2022, while the value of disbursed loans increased by 779% year-on-year to Rs 5,554 crore,” said declared Paytm.
The company said it is seeing an increase in the average ticket size due to the surge in personal loan business in particular.
“The rapid growth of our lending products provides us with an attractive profit pool,” Paytm noted.
The company’s total merchant payment volume or GMV (gross merchandise value) more than doubled to Rs 2.96 lakh crore from Rs 1.47 lakh crore a year ago.
Paytm’s average monthly transaction users (MTU) for the quarter ending June 2022 increased 49% on a yearly basis from 5 crore to 7.48 crore.
“In June alone, MTU was 75.9 million,” the filing said.
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