401% increase in Paytm lending activities, GMV recorded at 37% for the third quarter of fiscal 22

Paytm saw a 401% peak in its lending business and 37% year-over-year growth in its gross value of merchandise (GMV) in the third quarter of fiscal 2022, reported One97 Communications, the parent organization of Paytm in a regulatory filing Monday.

The gross value of merchandise, which is the value of the total payments made by merchants through transactions on any payment application, is crucial in determining the performance of any business.

According to the regulatory record, Paytm reported a 37% increase in the number of monthly transaction users (MTUs) to 64.4 million during the quarter. Meanwhile, the total number of loans disbursed through Paytm increased to 4.4 million loans, marking a 401% increase in the third quarter of fiscal 2022. The value of loans disbursed through Paytm in the third quarter was registered at Rs. 2,180 crore, marking a 365% increase during the period.

The company saw a 123% growth in GMV processed through Paytm’s platform to Rs.2501 billion or $ 33.6 billion, compared to the third quarter of fiscal 2021.

“GMV growth continues into the third quarter of fiscal 2022, even after the holiday season. GMV processed through our platform during the quarter totaled approximately INR 2,501 billion (INR 33.6 billion). dollars), a 123% year-over-year growth from the third quarter of fiscal 2021, “the company said in the regulatory filing.

According to the regulatory filing, more than two million devices were deployed in the quarter in the offline payment form.

“We believe we have the best portfolio of devices and unmatched distribution power. The total number of devices deployed on our merchant base has increased from 0.9 million as of June 30, 2021, to approximately 1.3 million as of September 30, 2021, to approximately 2.0 million as of December 31, 2021, ”he said. -he adds.

Notably, on Monday, Paytm’s stock was at an all-time low of around Rs 1,157 after investment bank Macquarie lowered its target price.

Paytm, which was founded in 2010, is a digital payment company that also provides e-commerce and financial services. Paytm went public on November 18, with shares falling more than 27% on the day of its debut.

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