Paytm, India's digital financial services firm's, loan disbursement zoomed nearly ninefold to Rs 5,554 crore through 84.78 lakh transactions in the April-June quarter, the company stated in a BSE filing.
According to the report, the Noida-based fintech company reached an annualised run rate of Rs 24,000 crore. Paytm had disbursed 14.33 lakh loans worth Rs 632 crore in the year-ago period.
"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 Rs 24,000 crore in June. The number of loans disbursed through our platform grew 492 per cent year-on-year (YoY) to 85 lakh loans in the quarter ending June 2022, while the value of loans disbursed grew 779 per cent y-o-y to Rs 5,554 crore," Paytm said.
The company said that it is seeing increases in average ticket size due to the scale-up of the personal loans business in particular.
"The rapid growth of our lending products brings us an attractive profit pool," Paytm said.
The total merchant payment volume or the GMV (gross merchandise value) of the company more than doubled to Rs 2.96 lakh crore from Rs 1.47 lakh crore a year ago.
Paytm's average monthly transacting users (MTU) for the quarter ending June 2022 increased by 49 per cent on a YoY basis to 7.48 crore from 5 crore. "For the month of June alone, the MTU stood at 7.59 crore," the filing said.
At 11.45 am, shares of Paytm were trading at Rs 699.45, up 0.05 per cent on the BSE on Monday.