SUMMARY
Paytm saw a rise of 2.6X in the number of loans disbursed YoY, going from 1.3 Mn in October 2021 to 3.4 Mn in October 2022
At the same time, the value of loans disbursed saw an increase of 4.8X YoY, going from INR 627 Cr in October 2021 to INR 3,056 Cr in October 2022
Last week, Paytm announced financial results for Q2 FY23, which saw its net loss widen by 21% YoY to INR 571 Cr for the quarter
Paytm issued 3.4 Mn loans worth INR 3,056 Cr ($407 Mn) in October 2022, the fintech giant’s regulatory filings with the Bombay Stock Exchange (BSE) showed.
The performance update comes off the back of the fintech major announcing its quarterly results for the quarter that ended on September 30, 2022.
According to the regulatory filings, the fintech major saw a rise of 2.6X in the number of loans disbursed year-on-year (YoY), going from 1.3 Mn in October 2021 to 3.6 Mn in October 2022. At the same time, the value of loans disbursed saw an increase of 4.8X YoY, going from INR 627 Cr in October 2021 to INR 3,056 Cr in October 2022.
The listed fintech startup has now disbursed 27.6 Mn+ loans in 2022 so far, worth over INR 19,476 Cr, per Inc42 data.
Month-on-month, the number of loans disbursed increased by nearly 10%, while the value of loans disbursed increased by less than 3%.
The year 2022 has been a watershed moment for Paytm’s lending business, as it continues to maintain its momentum. Bar the month of June, the fintech giant has disbursed more loans of a higher value consistently.
It is interesting to note that the average ticket size for the loans decreased by 0.34% to reach INR 8,988.24 per loan. Interestingly, the average loan issued by Paytm has gone from INR 4,847.37 in January to INR 8,988.24 in October, an increase of 85%.
Speaking of other performance metrics, the fintech company reported 84 Mn monthly transacting users (MTU) in October 2022, an increase of 33% YoY. The increase in MTU saw Paytm’s gross merchandise value (GMV) increase 42% YoY to reach INR 1.18 Lakh Cr from INR 83,000 Cr a year ago.
Paytm also noted that it has deployed 5.1 Mn payment devices as of October 31, 2022, adding 3 Lakh new devices in the month.
Following the announcement of the performance update, Paytm’s shares opened strongly, before settling at INR 640 apiece on November 14, 3 PM, 1.27% higher than Friday’s (November 11) close.
Last week, the listed fintech startup announced financial results for Q2 FY23, which saw its net loss widen by 21% YoY to INR 571 Cr for the quarter. Paytm’s revenue from operations rose 76% to INR 1,914 Cr from INR 1,086 Cr in Q2 FY22.
Further, Paytm’s expenses increased by 60.4% from INR 1,599.4 Cr in Q2 FY22 to INR 2,561.4 Cr during the quarter that ended on September 30, 2022. Of this, employee benefits accounted for INR 944.1 Cr, while marketing expenses contributed another INR 327.5 Cr to the total.
