One 97 Communications (PayTM) rose 3.04% to Rs 627.85 after the company said that it had disbursed 6.5 million loans through its platform in Q4 FY 2022, up 374% YoY.
The company had disbursed 1.3 million loans through its platform in Q4 FY 2021. The value of the loans disbursed was Rs 3,553 crore, registering a YoY growth of 417%.
Total merchant payment volume (GMV) processed through our platform during the fourth quarter of FY 2022 aggregated to approximately Rs 2.59 lakh crore, marking a YoY growth of 104%.
The company has witnessed record growth in user engagement on the Paytm platform, with average monthly transacting users (MTU) in the fourth quarter of FY22 at 70.9 million, a growth of 41% YoY.
In the offline payments business, the company had deployed 0.9 million devices in this quarter. The total number of devices deployed grew to 2.9 million as of 31 March 2022.
"With our device-led strategy, we are taking offline payment to the next stage of technology adoption and monetization from subscription and lending. In just 3 years, we have deployed 2.9 million devices in stores and are currently deploying about 1,000 devices per day. Due to the higher engagement that we see with our device merchants, we expect a rise in the number of merchants eligible for loans, the company said in a statement.
Paytm is one the largest payments platform in India based on the number of consumers, number of merchants, number of transactions and revenue ended March 2021.
More From This Section
On a consolidated basis, Paytm reported a net loss of Rs 778.50 crore in Q3 FY22, higher than net loss of Rs 535.50 crore in Q3 FY21. Net sales jumped 88.6% to Rs 1,456.10 crore in Q3 FY22 over Rs 772 crore in Q3 FY21.
Powered by Capital Market - Live News