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Paytm stock rises on 471% surge in April-May loan disbursements

Paytm said that its lending business continued its strong performance from the previous quarter

Mumbai / June 15, 2022 / 11:09 AM IST
 
 
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Shares of One 97 Communications, which operates Paytm, rose on June 15 after the fintech major reported strong operating performance for two months ended in May.

Paytm said its lending business continued its strong performance from the previous quarter as loan disbursements jumped 471 percent on-year in April-May to 5.5 million.

The disbursement in value terms stood at Rs 3,576 crore in the first two months of this quarter, representing a growth of 829 percent over last year. “We are also seeing increases in the average ticket size due to a scale-up of the personal loans business in particular,” Paytm said.

On the merchant payments side, too, Paytm reported strong growth as merchant payments volume rose 100 percent on-year with the gross merchant value processed hitting Rs 1.96 lakh crore in the past two months.

Overall, Paytm said that monthly transacting users on its super app rose 48 percent on a year-on-year basis to 74.3 million in the ongoing quarter.

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Shares of Paytm have remained under pressure ever since debuting on the bourses in November 2021. The stock has fallen more than 70 percent from its issue price of Rs 2,150 per share.

That said, the stock has recovered more than 20 percent after hitting its 52-week low of Rs 510.1 recently.

At 11:00am, shares of Paytm were up 1.5 percent at Rs 615.6 on the National Stock Exchange.
Moneycontrol News
first published: Jun 15, 2022 11:09 am
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