The loan amount disbursed under Paytm’s loan business has increased almost 9 times or 779 percent to Rs 5554 crore.
Paytm Loan Business: Shares of digital payment platform Paytm have seen a jump of up to 3 percent today. The stock reached Rs 719 in intraday, while on Friday it closed at Rs 699. In fact, good growth is being seen in the lending business of Paytm. Under Paytm’s loan business, the loan amount disbursed in Q1FY23 has increased almost 9 times or 779 percent to Rs 5554 crore. This figure was Rs 632 crore in the same quarter a year ago. Transactions grew by about 492 per cent to 84.78 lakh in the June quarter as against Rs 14.33 lakh in the same quarter a year ago. The company has given this information in the BSE filing.
Annual rate crosses 24000 crores
Paytm has informed that the annual rate of loan disbursal has crossed the Rs 24,000 crore mark. The company says that there has been an increase in the average ticket size. The company says that such rapid growth in the lending product brings us to an attractive profit pool.
49% growth in MTU
Paytm says that the company’s total merchant payment volume or GMV has more than doubled and it has increased from 1.47 lakh crores to 2.96 lakh crores. Average Monthly Transacting Users (MTU) of Paytm grew by 49 per cent to 7.48 crore in the June quarter. Which was earlier 5 crores. Talking about June only, there has been an increase of 7.59 crores in MTU.
