Good show by Paytm

Paytm, has shared its monthly business operating performance update for Q1 FY23. The company’s lending business is now growing at an annualised run rate of over ₹24,000 crores, with 8.5 million loans (up by 492% y-o-y) disbursed in the quarter ending June. This aggregates to a loan value of ₹5,554 Cr ($703 million), a y-o-y growth of 779%. Paytm added that it has further strengthened its leadership in offline payments with the number of devices deployed crossing 3.8 million as of June 2022. The company also registered a record increase in its user engagement with average monthly transacting users (MTU) at 74.8 million for the quarter ending June 2022, marking a 49% y-o-y growth. For the month of June alone, the MTU stood at 75.9 million. The Gross Merchandise Value (GMV) for the quarter stood at ₹2.96 Lakh Cr ($37 billion), marking a 101% y-o-y growth. For the entire FY22, the company’s revenue from operations grew 77% year-on-year at Rs 4,974 crore, while contribution profit increased 313% year-on-year to Rs 1,498 crore.