Paytm Disburses Loans Worth INR 7,300 Cr In Q2 FY23; Clocks 482% YoY Growth

Bengaluru-based fintech major Paytm has disbursed 9.2 Mn loans between July and September 2022, worth a cumulative INR 7,313 Cr ($894 Mn), the company’s regulatory filings with the Bombay Stock Exchange (BSE) stated.

In the filings accessed by Inc42, Paytm underlined that its loan disbursals in Q2 FY23 grew 224% year-on-year (YoY), while the value of loans disbursed grew 482% YoY.

In the quarter ending September 2021, the fintech giant had disbursed 2.84 Mn loans worth INR 1,257 Cr.

According to Inc42 data, the stock market-listed fintech startup has now disbursed 24.2 Mn+ loans in 2022 so far, worth over INR 16,420 Cr.

Paytm claims to have been rapidly growing its credit business since January 2022, apart from a slight fall in the months of June and July 2022.

However, the company has not revealed its September numbers on a standalone basis in the said filings. But according to Inc42 estimates, only nearly 3.1 Mn loans were disbursed in the month (staying flat month-on-month), while the value of the loans also improved significantly standing at INR 2,796 Cr.

Paytm’s Operational Metrics Continue To Grow 

In other reported metrics, Paytm announced that its average monthly transacting users (MTU) were 79.7 Mn in the quarter ending September 2022, registering a growth of 39% YoY. 

This is also a significant improvement from the previous quarter, when Paytm recorded an average MTU between April and June 2022 at 75 Mn.

Paytm also reported that it has deployed 4.8 Mn devices so far across the country, as of September 10, 2022, including sound box and point of sale (POS) devices. On a year-on-year basis, the fintech major has deployed an additional 3.5 Mn devices, it said in the filings. 

Paytm’s GMV, i.e., its merchant payment volumes, has risen by 63% year-on-year (YoY) for the quarter ending September 2022 to reach INR 3.18 Lakh Cr.

Paytm Share Market Price Slightly Affected By Operational Metrics

Despite showcasing constant growth quarter-on-quarter, the share price of Paytm remains a topic of concern among investors. Yet, there has been a slight uptick in the share price of the fintech major.

Inc42 had reported an 11.27% surge in the previous week, emerging as the third-best performer among the new-age tech companies. 

Even global financial advisory majors JP Morgan and Goldman Sachs reiterated their bullish outlook on One97 Communications, calling the company’s growth story compelling and a model shift from chasing towards profitability.

Paytm also went live on the ecommerce network ONDC for Bengaluru-based users, giving it an early-mover advantage in the rising interoperability ecommerce segment. 

Paytm was also among the top three gainers in the UPI ecosystem, recording a consistent 5% month-on-month growth, with 103.72 Cr transactions worth INR 1.2 Lakh Cr. While revenue for Q1 FY22 was also up by nearly 90%, the loss also widened by 70% to INR 645.4 Cr.

Paytm parent One97 Communications’ share opened in the green today (October 10, 2022), despite the overall market sentiment being bearish. It opened at INR 706.5 and quickly rose to INR 719.60 (its real-time highest till the writing of the story).

Update | 06:18, October 10, 2022

Charts added & September loan disbursal value changed from INR 4,796 Cr to INR 2,796 Cr.

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