The number of loans disbursed under Paytm’s loan business has increased to 55 lakh in the first 2 months of FY 2023. There was a growth of 471 percent on a yearly basis.
Paytm operating performance: Digital payment platform Paytm’s lending business is seeing good growth. The number of loans disbursed under Paytm’s loan business has increased to 55 lakh in the first 2 months of FY 2023. That is, on an annual basis, there has been a jump of 471 percent or about 6 times in loan disbursal. The company has given information about this. After this information, today the shares of Paytm have seen a jump of 2 percent and it has come to a price of Rs 624. Global brokerage houses are positive about the stock and are giving investment advice.
Loan Value Rs 3576 crore
The company’s annual income estimate for loan disbursement has reached Rs 23,000 crore. The company is in the leadership position in offline payments and device deployment crossed 34 lakhs in May. The company’s business continues to grow on the basis of numbers. The loan disbursal of the company during April to May 2022 has been 55 lakhs. In this, there was a growth of 471 percent or about 6 times on an annual basis. The loan value stood at Rs 3576 crore. In this, the annual growth was 829 percent.
LIC rises 5%, shares cross Rs 700, sell it on light loss or stay now
48% growth in MTU
User engagement on the Paytm Super app has increased and the Average Monthly Transacting Users (MTU) during April to May 2022 grew by 48 per cent year-on-year to 74.3 million. Merchant Payment Volume (GMV) grew 105 per cent year-on-year and stood at Rs 1.96 lakh crore at the end of the first two months of FY 2022.
Stock jumps, what to do?
In today’s business, there is a jump in the shares of Paytm and it has strengthened by about 2 percent to Rs 624. The stock had closed at Rs 607 on Tuesday. By the way, there has been a steady decline in the stock since the IPO. It is trading at a discount of 72 per cent against its issue price of Rs 2,150.
However, with this price, the veteran brokerage house expects a rise in the stock. Brokerage house CITI has given an investment advice in the stock and has increased the target price from Rs 910 to Rs 915 for this. Brokerage house JP Morgan has also given an overweight rating on the stock. However, the target price has been reduced from Rs 1200 to Rs 1000.
(Disclaimer: Stock investment advice is given by the brokerage house. These are not the personal views of The Financial Express. Markets are risky, so take expert opinion before investing.)