SUMMARY
Paytm saw loan disbursals rise 2.37X and the value of the loans disbursed 4.57X YoY in Q3 FY23
In all, the listed fintech major disbursed 34.5 Mn loans worth INR 26,358 Cr in 2022
Paytm also recorded its MTUs reaching 85 Mn in Q3 FY23, while its PoS base reached 5.8 Mn
Listed fintech giant Paytm disbursed 3.7 Mn loans worth INR 3,666 Cr ($445.36 Mn) in December 2022, recording its best-ever month in terms of both metrics ever.
According to the fintech’s filings with the Bombay Stock Exchange (BSE) reporting the metrics for Q3 FY23, Paytm has seen its loan disbursals grow 2.37X while the value of the loans disbursed grew 4.57X year-on-year (YoY).
In terms of month-on-month (MoM) change, the listed fintech saw the number of loans it disbursed rise from 3.4 Mn in November 2022 to 3.7 Mn in December 2022, an increase of 8.82%. Similarly, the value of loans disbursed increased by 13.29%, going from INR 3,236 Cr in November to INR 3,666 Cr in December. In all, Paytm disbursed 34.5 Mn loans worth INR 26,358 Cr in 2022.
The average ticket size of the loans also increased consistently throughout the year. For December 2022, the average ticket size was INR 9,908.11, up 4.1% from INR 9,517.65 in November 2022 and up 104.4% from INR 4,847 at the start of the year.
Paytm has continued to diversify its product portfolio over the past few years, but the growth in its lending business was strong throughout 2022.
There was only one occasion throughout the year when it disbursed fewer loans than the previous month, and only three occasions where the number of loans disbursed remained constant for two consecutive months.
Further, there was not a single month which did not see the value of loans disbursed rise compared to the previous month in 2022.
Paytm also reported its monthly transacting users (MTUs) reaching 85 Mn during the quarter that ended December 31, 2022, registering a rise of 32% from the year-ago period. For the two months that ended November 30, 2022, the number was 84 Mn, therefore, MTUs only increased marginally during December 2022.
Similarly, it reported adding 3.8 Mn point-of-sale (PoS) devices, including soundboxes, between Q3 FY22 and Q3 FY23. Paytm now has a merchant base of 5.8 Mn paying for the subscription of PoS devices.
“With our subscription as a service model, the strong adoption of devices drives higher payment volumes and subscription revenues, while increasing the funnel for our merchant loan distribution,” added the fintech giant.
In terms of the gross merchandise value (GMV), Paytm reported having processed a total merchant GMV of INR 3.46 Lakh Cr ($42 Bn) in Q3 FY23, a rise of 38% YoY from INR 2.5 Lakh Cr total merchant GMV processed in Q3 FY22.
The fintech giant’s shares were among the worst-performing new-age tech startup stocks in 2022, with its share price reaching an all-time low of INR 439.60 apiece on November 23, 2022. However, the share price has since recovered slightly and was at INR 564.45 on January 9, 2023, at 1:40 PM, up 2.5% from the previous close.
