Paytm Disbursed 3.1 Mn Loans Worth INR 2,427 Cr In August 2022

Fintech major Paytm disbursed 3.1 Mn loans during the month of August 2022, worth a cumulative INR 2,427 Cr, the company’s regulatory filings with the Bombay Stock Exchange (BSE) show.

The filings, filed for the two months ended August 31, 2022, reported a total of almost 6 Mn loans disbursed across July and August 2022, worth a total of INR 4,517 Cr.

Paytm said in the filing that the number of loans rose 246% year-on-year (YoY) during the two months ended August 31, while the value of loans increased 484% during the same time.

With the latest update, the fintech major has now disbursed 20.9 Mn loans in 2022 so far, worth INR 13,064 Cr.

Since January 2022, the number of loans has increased by 63%, going from 1.9 Mn loans in January to 3.1 Mn loans in August. During the same time, the value of loans disbursed increased by 163%. 

Hence, Paytm has reported nearly steady growth in its credit business, apart from a fall in the number of loans disbursed in June and the number remaining flat in July.

In other reported metrics, the fintech’s monthly transacting users (MTU) reached 79 Mn for the two months ended August 31, 2022, a growth of 40% YoY. 

However, looking from a quarterly perspective, the growth is rather muted at 5%; Paytm reported 75 Mn MTU for Q1 2023. Since January 2022, Paytm’s MTU has increased by 14.5% from 69 Mn.

Paytm also reported that it has deployed 4.5 Mn devices so far across the country, as of August 31, 2022, including soundbox and point of sale (POS) devices. Over the last year, the fintech major has deployed an additional 3.3 Mn devices. 

The number of devices deployed in January 2022 stood at 2.3 Mn; Paytm has deployed 1 Mn more devices over the last eight months.

In the gross merchandise value (GMV), the fintech giant is close to reaching the INR 10 Lakh Cr mark for the year, having reached INR 7.65 Lakh Cr already.

For August 2022, GMV was slightly down at INR 1.04 Lakh Cr, compared to last month’s 1.06 Lakh Cr. Since January 2022, Paytm’s GMV has risen by 25%.

For the first quarter of FY23, Paytm reported a consolidated loss of INR 645.4 Cr, an increase of 69% YoY. However, it was the third quarter in a row where the fintech major reported a reduction in losses. Paytm’s operating revenue saw an 89% YoY jump to reach INR 1,680 Cr in Q1 FY23.