New Delhi: One97 Communications, a provider of digital financial services that goes by the Paytm brand, reported on Monday that the annualised run rate of loans disbursed in September increased by almost 17% to about Rs 34,000 crore. In August, the company reported a run rate of loan disbursals that was approximately Rs 29,000 crore annually.
“Our loan distribution business (in partnership with top lenders) continues to witness accelerated growth with disbursements through our platform now at an annualised run rate of Rs 34,000 crore in the month of September,” the company said in a regulatory filing.
Paytm disbursed a total of 92 lakh loans during the reported month, up from 28.41 lakh during the same period last year, a growth of more than three times.
From Rs 1,257 crore in the third quarter of September 2021, the value of loans disbursed through Paytm increased nearly six times to Rs 7,313 crore. For the three months ending in September 2022, the company’s average monthly transaction user (MTU) climbed 39% year over year to 7.97 crore.
According to the report, the total merchant gross merchandise value (GMV), which is the entire amount of payments processed by the merchants, increased by 63% to an overall value of Rs 3.18 lakh crore during the September 2022 quarter.