Digital financial services firm One97 Communications, which operates under the Paytm brand, on Friday said its loan distribution business reached an annual run rate of Rs 25,000 crore in July.
The company had reported an annual run rate of around Rs 24,000 crore for the loan distribution business in June.
Annual run rate gives an estimate of an entity’s future revenue in a year based on the current quarterly or monthly performance.
“Our loan distribution business (in partnership with top lenders) continues to witness accelerated growth with disbursements through our platform now an annualised run rate of over Rs 25,000 crore in July,” Paytm said in its operating performance update for July 2022.
The number of loans disbursed through Paytm platform jumped close to four-times to 29.46 lakh in July 2022, while the value of loans disbursed soared to Rs 2,090 crore on year-on-year basis.
The gross merchandise value on Paytm increased 82 per cent to Rs 1.06 lakh crore in July 2022 from Rs 58,000 crore in July 2021. The monthly transacting users on Paytm grew by 41 per cent to 7.8 crore from 5.5 crore on YoY basis.