One97 Communications, a supplier of online financial services that operate under the Paytm brand, reported on Monday that the annualised run rate (ARR) of loans disbursed from August to September was up by 17%, or about INR 34,000 crore. It’s August ARR for loan disbursals was INR 29,000 crore.
“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 INR 34,000 crore in September,” the company said in a regulatory filing.
In the quarter that ended in September 2022, Paytm disbursed a total of 9.2 million loans, up from 2.8 million in the prior year, a growth of more than three times.
From INR 1,257 crore in the third quarter of September 2021, the value of loans disbursed through Paytm increased nearly six times to INR 7,313 crore.
The company’s average monthly transaction user (MTU) climbed 39% year over year to INR 7.97 crores for the quarter that ended in September 2022.
According to the filing, the total merchant gross merchandise value (GMV), which is the total amount of payments processed by the merchants, increased 63% to an overall value of INR 3.18 lakh crore during the September 2022 quarter.