New milestones achieved in Lending. Monthly Transacting Users of Paytm superapp at its highest
- Lending business scales to 6.5 million loan disbursals during the quarter, aggregating to a total loan value of INR 3,553 Cr ($474 million) during the quarter (YoY growth of 417%)
- Offline payments business accelerates with 0.9 million devices deployed in this quarter. Total number of devices deployed grew to 2.9 million
- Paytm Super App average monthly transacting users (MTU) for the quarter grows 41% YoY to 70.9 million
- Over 104% YoY increase in GMV for the quarter at INR 2.59 Lakh Cr ($34.5 billion)
Lending business sees massive surge: Working in partnership with marquee lenders, we have scaled our loan disbursement and servicing business to great scale. RBI's clear regulations have make this a mainstream business.
The number of loans disbursed through our platform grew 374% YoY to 6.5 million loans in Q4 FY 2022, while the value of loans disbursed was INR 3,553 Cr (YoY growth of 417%).
Robust growth in merchant payments volume: Paytm offers omnichannel payment solutions to online and offline merchants. Total merchant payment volume (GMV) processed through our platform during the fourth quarter of FY 2022 aggregated to approximately INR 2.59 Lakh Cr ($34.5 billion), marking a y-o-y growth of 104%. We saw strong quarter-on-quarter trends, despite the previous quarter having an impact of the festive season.
Paytm Super App offerings drive highest user engagement: Paytm super app gives the most comprehensive payment choices to customers. We have seen record growth in user engagement on the Paytm platform, with average monthly transacting users (MTU) in the fourth quarter of FY 2022 at 70.9 million, growth of 41% Y-o-Y.
Over 900,000 devices deployed this quarter: 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.
Shares of One 97 Communications Limited was last trading in BSE at Rs. 609.30 as compared to the previous close of Rs. 610.65. The total number of shares traded during the day was 922976 in over 27770 trades.
The stock hit an intraday high of Rs. 629.00 and intraday low of 603.50. The net turnover during the day was Rs. 569815394.00.
Source : Equity Bulls