Digital financial services firm One97 Communications, which operates under the Paytm brand name, on Monday posted around 17 per cent increase in annualised run rate of loan disbursals to around Rs 34,000 crore in September.
The company had posted an annualised run rate of loan disbursals of about Rs 29,000 crore in August. “Our loan distribution business (in partnership with top lenders) continues to witness accelerated growth with disbursements through our platform now at an annualised run rate of Rs 34,000 crore in the month of September,” the company said in a regulatory filing.
During the reported month, total number of loans disbursed by Paytm grew by over three fold to about 92 lakh in the quarter ended September 2022, from 28.41 lakh a year ago.
The value of loans disbursed through Paytm grew close to six times to Rs 7,313 crore, from Rs 1,257 crore in the September 2021 quarter. The company’s average monthly transaction user (MTU) for the quarter ended September 2022, increased 39 per cent to 7.97 crore on a year-on-year basis.
During the September 2022 quarter, the total merchant gross merchandise value (GMV), which is the total payments volume processed by the merchants, grew by 63 per cent to an aggregated value of Rs 3.18 lakh crore on a year-on-year basis, according to the filing.