For Q1, it disbursed 8.5 million loans – up 492% from the year-ago period – worth $703 million (or Rs 5,554 crore), the company said while updating its operating performance across exchanges.
For the previous quarter ended March 31, 2022, Paytm had disbursed 6.5 million loans worth $447.4 million (or approximately Rs 3,553 crore).
“Our rapid development” credit product brings us an attractive profit pool. We are also seeing an increase in the average ticket size especially due to the large scale of the personal loan business,” it said.
Paytm Growth lending business The Reserve Bank of India (RBI) has increased scrutiny of digital lending practices and recently barred prepaid payment instruments from loading credit lines.
The central bank is expected to issue digital lending guidelines to further regulate the sector.
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Earlier this year, Paytm said it disbursed 15.2 million loans in FY12, an increase of more than five times from FY2011, when total loans stood at 2.6 million.
Paytm also said that it deployed 3.8 million new point-of-sale devices in the June quarter and had 74.8 million active monthly users.
The increase in metrics came even as One97 Communications’ share price is down 67 per cent from its IPO price of Rs 2,150 per share.
Shares of One97 Communications were trading at Rs 703.5 till Monday afternoon.
The company also said that its payout value of transactions to merchants has also increased.
“Total Merchant GMV (gross inventory value) processed through our platform for the quarter ended June 2022 was approximately Rs 2.96 lakh crore ($37 billion), representing a year-on-year growth of 101%,” the company said.