Sharing its update on the operating performance for the quarter ended March 2022, Paytm said that the number of loans disbursed through its platform grew by 374% year-on-year (YoY) to 6.5 million loans in the fourth quarter of FY 2022. occurred while the value of loans was disbursed 3,553 crore, an increase of 417% on a year-on-year basis.
PaytmWhich provides omnichannel payment solutions to online and offline merchants, has seen a 104% year-on-year growth in its overall merchant payment volume (GMV). 2.59 lakh crore. “Despite the impact of the festive season in the last quarter, we saw strong quarter-on-quarter trends,” the fintech firm said in an exchange filing.
Paytm said it has witnessed a record growth in user engagement on the Paytm platform, with average monthly transaction users (MTU) at 70.9 million in the fourth quarter of FY22, a 41% increase from the same quarter last year.
In just 3 years, Paytm said it has deployed 2.9 million devices in stores and is currently deploying around 1,000 devices per day. Due to greater engagement with our device merchants, the company expects an increase in the number of merchants eligible for the loan.
“Against the backdrop of volatile market conditions for high-growth stocks globally, our shares are well below the IPO price. Rest assured, the entire Paytm team is committed to building a large, profitable company and creating long-term shareholder value. Aligned with this, my stock grant will be given to me only when our market cap has crossed the IPO level on an ongoing basis,” said Vijay Shekhar Sharma, Founder and CEO, Paytm.
Paytm shares rise over 3% In Wednesday’s opening deals, 630 each on the BSE issued its Q4 business update.
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