The value of loans disbursed through our platform during the quarter was Rs 2,180 crore, an increase of 365 per cent YoY, the company said in an exchange filing.
ReutersGMV processed through its platform during the quarter aggregated to approximately Rs 2,50,100 crore ($33.6 billion), a growth of 123 per cent YoY compared to Q3FY21.
NEW DELHI: on Monday said the number of loans disbursed through its platform jumped five times year-on-year (YoY) to 4.4 million loans during the December quarter as the lending business continued to scale rapidly.
The value of loans disbursed through our platform during the quarter was Rs 2,180 crore, an increase of 365 per cent YoY, the company said in an exchange filing. Paytm said it has seen stellar growth in each of the lending products, i.e. Paytm Postpaid (Buy-Now-Pay-Later), Personal Loans and Merchant Loans.
The company clarified that all lending is done in partnership with banks and NBFCs, and no First Loan Default Guarantee (FLDG) was given to any lender for its lending business.
Paytm said GMV growth continued in Q3. GMV processed through its platform during the quarter aggregated to approximately Rs 2,50,100 crore ($33.6 billion), a growth of 123 per cent YoY compared to Q3FY21.
“Our monthly transacting users (MTU) showed consistent growth in FY21 and in the first two quarters of FY22. The trajectory has continued in the third quarter of FY 2022 with 64.4 million average MTUs, growth of 37 per cent YoY over the 47.1 million average MTUs in Q3 FY 2021,” Paytm said in a regulatory filing.
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Source: BSE Filing
The company said its total number of devices deployed across merchant base has increased from 9 lakh as on June 30, 2021, to approximately 13 lakh as on September 30, 2021, to approximately 20 lakh as on December 31, 2021.
The company released its updates on the day when its shares tanked 6 per cent, hitting a new low, following another downward price target revision by Macquarie.
Reuters
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