Biznextindia : One97 Communications limited, the holding company of Paytm on Monday said it has achieved new milestone in lending business with disbursements at an annualized run rate of Rs 24,000 Cr ($3 billion) through its platform in June. It has also achieved highest Monthly Transacting Users (MTU) of Paytm Super-App at 76 million.
“The number of loans disbursed through our platform grew 492% y-o-y to 8.5 million loans in the quarter ending June 2022, while the value of loans disbursed grew 779% y-o-y to Rs 5,554 Cr ($703 million). The rapid growth of our lending products brings us an attractive profit pool. We are also seeing increases in average ticket size due to the scale-up of the personal loans business in particular” the company said.
The total merchant GMV processed through our platform for the quarter ending June 2022 aggregated to approximately Rs 2.96 Lakh Cr ($37 billion), marking a y-o-y growth of 101%.
The Paytm Super App continues to see heightened consumer engagement for the company’s comprehensive payment offerings. We continue to achieve new records in user engagement, with the average monthly transacting users (MTU) for the quarter ending June 2022 at 74.8 million, registering a growth of 49% Y-o-Y. For the month of June alone, the MTU stood at 75.9 million.