Digital financial services firm One97 Communications, which operates under the Paytm brand name, on Monday posted around 17% increase in its annualised run rate of loan disbursals to around Rs 34,000 crore for September, compared with Rs 29,000 crore in August.
The Noida-based company’s average monthly transaction user (MTU) for the quarter ended September 2022 jumped 7% on a quarter-on-quarter (q-o-q) basis to 80 million, its filings with the BSE showed.
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This helped the total number of loans disbursed by the company grow to around 9.19 million for the September quarter, up from 8.47 million in the June quarter. That was an increase of about 224% YoY from 2.84 million Paytm had reported in the same period last year.
“We continue to see growth and upsell opportunities in this (lending) business, while we work with our partners to remain focused on the quality of the book,” the regulatory filing said.
The value of loans disbursed through Paytm for the three months ended September grew around six times to Rs 7,313 crore, from Rs 1,257 crore in the corresponding period last year. On a sequential basis, it was up from Rs 5,554 crore in the the June quarter.
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On a year-on-year basis, the company’s total merchant gross merchandise value (GMV), a function of the total payments volume processed by merchants, climbed 63% to Rs 3.18 trillion on a year-on-year basis.