• According to a regulatory filing, in the two months to Q3FY23 ended November 2022, the company's value of loans disbursed grew 374% year-on-year to ₹6,292 crore, while the number of loans disbursed grew 150% year-on-year 6.8 million in cumulative debt.
Vijay Shekhar Sharma-backed Paytm has touched a new milestone in offline payments leadership, with over 5.5 million merchants now paying subscriptions to payment instruments by the end of November. Fintech has steadily increased in payments and loan disbursements. Its loan disbursements came in November at an annualized rate of ₹39,000 crore ($4.8 billion). The Noida-based digital payments giant has seen accelerated growth with disbursements through its platform.
According to regulatory filings, in the two months to Q3FY23 ended November 2022, the company's value of loans disbursed grew 374% year-on-year to ₹6,292 crore, while the number of loans disbursed grew 150% year-on-year to 6.8 million. million cumulative debt.
In the filing, Paytm said, "Given the low current penetration we see a significant growth runway while we continue to work with our partners to focus on book quality."
In addition, Paytm said that they continue to strengthen their leadership in offline payments, with over 5.5 million merchants now paying subscriptions to payment instruments. In the two months ending November 2021, Paytm had 1.6 million devices, with the company said to add over 3.9 million devices in the 12 months to November 2022. In Q2FY23, the company's total devices deployed were 4.8 million merchants paid on their devices.
It said, "With our subscription as a service model, strong adoption of the instruments drives higher payment volumes and subscription revenue while increasing the funnel for our merchant loan disbursements."
Going forward, the company's Paytm Super app continues to witness growing user engagement with the average MTU for the two months ended November 2022 at 84 million, a growth of 33%.
Furthermore, in the first two months of Q3FY23, the company's total merchant GMV processed through its platform reached ₹2.28 lakh crore ($28 billion)---marking a growth of 37% year-on-year Went.
Paytm said that over the past few quarters their focus has remained on driving payment volume that generates profitability for us, either through net payment margin or direct upsell potential.
Paytm stock will be in focus this week as the company's board of directors is scheduled to meet on December 13 to consider a proposal for buyback of fully paid-up equity shares of the company.
On Monday, Paytm stock was trading on a volatile note, tracking a bearish market tone. At around 9.42 am, the stock registered a decline of 0.82% at ₹540.55. The stock has touched a day's high and low of ₹554.70 per share and ₹537 respectively. The market cap of the company currently stands at over ₹35,122 crore.
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