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Paytm loan disbursals up almost six times in April-May

Paytm’s lending business clocked 5.5 million loan disbursals in April-May

June 15, 2022 / 10:39 AM IST

One97 Communications, which runs the digital payments brand Paytm, on June 15 reported that the platform's lending business witnessed an annualised run-rate of Rs 23,000 crore for loan disbursements while device deployment crossed the 34 lakh mark in May.

The fintech giant clocked 5.5 million loan disbursals in April-May 2022, a year-on-year growth of 471% or almost six times. It has disbursed loans amounting to Rs 3,576 crore in the first two months of Q1FY23.

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"We are also seeing increases in average ticket size due to the scale-up of the personal loans business in particular," it said in an exchange filing.

GMV (gross merchandise value) -- merchant payments processed through Paytm Wallet, Paytm Payments bank account, net banking, credit and debit cards, UPI, etc -- during May rose 105% year-on-year to Rs 1.96 lakh crore.

One97 Communications on May 20 reported a loss of Rs 762.5 crore for the March quarter of the financial year 2021-22. The company had posted a loss of Rs 444.4 crore in the corresponding quarter of the previous fiscal.

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Revenues from operations were up 89 percent coming in at Rs 1,541 crore.

For FY22, the company posted a loss of Rs 2,396 crore against Rs 1,701 crore in the previous fiscal. Revenues from operations stood at Rs 4,974 crore, up 77%.

 
Tags: #PayTm
first published: Jun 15, 2022 09:19 am
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