Festive High For Paytm: Loan Disbursals Surge To Rs 3,056 Crore In October

Paytm's loan distribution business, in partnership with lenders, saw aggregating to disbursements of Rs 3,056 crore, in the festival month of October.

Festive High For Paytm: Loan Disbursals Surge To Rs 3,056 Crore In October

Paytm gets a festive boost in October

Fintech major Paytm's loan distribution business, in partnership with lenders, saw 3.4 million disbursals, aggregating to disbursements of Rs 3,056 crore, in the festival month of October.

The Vijay Shekhar Sharma-led company said when compared to October 2021 numbers, loan disbursement has grown 387 per cent.

Consumer engagement on Paytm Super-App saw average monthly transacting users (MTU) at 84.0 million for October, up 33 per cent compared to the same month last year, One97 Communications, which owns the Paytm brand, said in a performance update filed with stock exchanges.

"We continue to strengthen our leadership in offline payments, with merchants who pay us a subscription for payment devices now exceeding 5.1 million across the country," Paytm said in the filing.
Merchant payment volumes (GMV) rose 42 per cent at Rs 1.18 lakh crore in October this year.

"Our focus is only on volumes that generate profitability for us, either through net payments margin or directs upsell potential," it said.

One97 Communications last week reported a consolidated loss of Rs 593.9 crore for the July-September period of 2022. The company posted a loss of Rs 481 crore in the same month in 2021.

Paytm's consolidated revenue rose to Rs 1,914 crore in this period from Rs 1,086.4 crore in the comparable period in 2021.

Paytm stock were trading over 1.6 per cent higher at around Rs 643 per share on the BSE.

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