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Paytm’s loan disbursals grow 414% on-year in first two months of the quarter

Paytm’s loan disbursals grow 414% on-year in first two months of the quarter

Paytm's gross merchandise volume (GMV) in the first two months of this quarter rose to $22.4 billion, which is a growth of 129 per cent from Q3 FY21.

Business Today Desk
Business Today Desk
  • Updated Dec 13, 2021 10:06 AM IST
Paytm’s loan disbursals grow 414% on-year in first two months of the quarterPaytm's GMV increases 129% in first two months of Q3 FY22

Parent One97 Communications stated on Monday that Paytm’s loan disbursals through its platform has grown 414 per cent year-on-year in the first two months of the quarter. There were 2.7 million loan disbursals, with a value of $178 million, which is an increase of 375 per cent year-on-year, it said.

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“Number of loans disbursed through our platform increased by 414% y-o-y to 2.7 million loans in the first two months of the quarter. This continues the significant momentum seen in the past quarter,” it said.

One97 clarified that November metrics are not comparable to October metrics due to festive season impact and November having a day less than October. It added that considering its business, year-on-year is more suitable. Month-on-month and quarter-on-quarter trends are not the right way to assess their business, it said.

The gross merchandise volume (GMV) in the first two months of this quarter rose to $22.4 billion, which is a growth of 129 per cent from Q3 FY21. The company stated that the GMV grew on the back of its strong performance during the festive season.

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Its monthly transacting users (MTU) also consistently grew in the first two quarters of FY22 and continued the trend in the third quarter too. Paytm saw an MTU of 63.3 million on average, which is a growth of 36 per cent year-on-year over the 46.6 million MTUs in the first two months of Q3 FY21.

“We continued to witness acceleration of deployments in our devices business. The total number of devices deployed across our merchant base has increased from 0.9 million as on June 30, 2021 to approximately 1.3 million as on September 30, 2021 to approximately 1.6 million as on November 30, 2021,” stated One97.

Also read: Paytm Q2 results: Net loss widens to Rs 482 cr; first half losses at Rs 858.30 crore
Also read: Paytm Payments Bank gets RBI nod for scheduled bank status

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Published on: Dec 13, 2021 10:06 AM IST
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