Paytm’s lending business registers growth; disburses loans worth 8.5 million in Q1 FY23…
Mumbai: 11th July 2022: Paytm, India’s leading digital payments and financial services company, has just shared its monthly business operating performance update for Q1 FY23. The company’s lending business is now growing at an annualised run rate of over ₹24,000 crores, with 8.5 million loans (up by 492% y-o-y) disbursed in the quarter ending June. This aggregates to a loan value of ₹5,554 Cr ($703 million), a y-o-y growth of 779%.
Paytm added that it has further strengthened its leadership in offline payments with the number of devices deployed crossing 3.8 million as of June 2022. The company also registered a record increase in its user engagement with average monthly transacting users (MTU) at 74.8 million for the quarter ending June 2022, marking a 49% y-o-y growth. For the month of June alone, the MTU stood at 75.9 million.
The Gross Merchandise Value (GMV) for the quarter stood at ₹2.96 Lakh Cr ($37 billion), marking a 101% y-o-y growth.
Paytm closed the previous financial year on a strong note, registering an 89% year-on-year jump in revenue growth in Q4FY22 at Rs 1,541 crore, while the contribution profit grew 210% year-on-year to Rs 539 crore. For the entire FY22, the company’s revenue from operations grew 77% year-on-year at Rs 4,974 crore, while contribution profit increased 313% year-on-year to Rs 1,498 crore.