Paytm’s parent One97 Communications sees 253% YoY growth in loans disbursed in Q4
- ByStartupStory | April 5, 2023
Paytm’s parent company, One97 Communications, reported that it disbursed loans amounting to INR 12,554 crore in Q4 of the financial year ending March 2023, which is a YoY growth of 253%. The company’s customer base also grew with 90 million MTUs in Q4, indicating a 27% YoY growth, from 85 million in the previous quarter.
Paytm’s parent company One97 Communication reported a 253% YoY increase in loans disbursed worth Rs 12,554 crore in the fourth quarter of the financial year ending March 2023. The platform saw a 27% YoY growth with 90 million average monthly transacting users in Q4. Paytm disbursed 11.9 million loans in the quarter, representing an 82% YoY rise, with Rs 4,468 crore disbursed in March alone in partnership with lending firms. In the previous quarter, Paytm disbursed 10.5 million loans worth Rs 9,958 crore. The company plans to remain focused on the quality of the book as its payment consumers and merchant base offer a large addressable market for long-term growth.
Paytm’s Merchant Payment Volumes (GMV) rose to Rs 3.62 lakh crore in the quarter, reflecting a YoY increase of 40%. This represents a 4% increase from the preceding quarter. The company’s focus on payment volumes that generate profitability for them has resulted in increased net payments margins or direct upsell potential. As of March 2023, Paytm deployed 6.8 million subscription devices, including Soundbox and POS machines, with an additional one million added from the previous quarter. It added 3.9 million devices over the past 12 months. At 12:07 pm, the stock of the company was trading at Rs 645.65, showing a 1.15% increase on the NSE.
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