Paytm Disbursed 254% More Loans In February: Revenues Increase By 41%, Loss Reduced By 50%


Rohit Kulkarni

Rohit Kulkarni

Mar 16, 2023


With disbursements of Rs 4,158 crore ($503 million) in February 2023, Paytm continued to scale its credit business. This has been an on-year growth of 254 percent, with number of loan disbursals rising 86 percent from the last year to 40 lakh.

Paytm Disbursed 254% More Loans In February: Revenues Increase By 41%, Loss Reduced By 50%

Sustained Rise in Consumer Base & a Surge of 254% in Loan Disbursals 

The company’s consumer base continued to expand as per the monthly performance update as the average monthly transacting users (MTU) of 8.9 crore for the quarter-to-date which is an increase on 28% over February 2022.

With an on-year growth of 41 percent, the Paytm’s Merchant Payment Volumes (GMV) for the quarter-to-date (January and February 2023) stood at Rs 2.34 lakh crore ($28.3 billion).

In an exchange filing, the company said that “Number of merchants paying subscription for payment devices like Soundbox has reached 64 lakh as of February 2023”.

As compared to the year ago period, the revenue of Paytm rose 41 percent to Rs 2,062 crore in Q3 FY23, on the other side net loss narrowed to Rs 392 crore from Rs 778 crore.

The founder and CEO, Vijay Shekhar Sharma, in a letter to shareholders said that the company had achieved operating profitability in Q3, which is three quarters ahead of the guidance which was for the September quarter. 

After that the stock has increased 12 percent.

At 9:20 am, the stock was quoting at Rs 588 apiece on the NSE, 0.8 percent lower from the previous close.

More about PayTm

Founded in 2010 by Vijay Shekhar Sharma under One97 Communications, Paytm is an Indian MNC which specializes in digital payments and financial services.

It offers mobile payment services to consumers and enables merchants to receive payments through its QR code, point of sale and online payment gateway offerings.

It also offers financial services such as microloans and buy now, pay later to its consumers and merchants as it has partnerships with financial institutions.

In addition to this, the company also provides ticketing services, retail brokerage products and online games.

Listed on the Indian stock exchanges on 18 November 2021 after an initial public offering, the Paytm’s gross merchandise value (GMV) was reported to be ₹8,500 billion (US$110 billion) for the fiscal year 2021–22.


Rohit Kulkarni
Rohit Kulkarni
  • 1114 Posts

Subscribe Now!

Get latest news and views related to startups, tech and business

You Might Also Like

Business
Dec. 8, 2022

Beat The Burden Of Medical Inflation With A Health Insurance

As disease rates rise and medical technology develops, treatment costs climb. It’s essential to understand that medical costs are not exclusively associated with hospitals. The cost of prescription drugs, diagnostic procedures, ambulance and operating room fees, consultations with doctors, and other costs are also constantly increasing. All of them could put a big strain on […]

Business
Dec. 8, 2022

3 Biggest Changes Of iOS 16.2 Update That Every iPhone User Should Know!

In its latest update Apple said that it is preparing for the iOS 16.2 update for iPhones across the world. Notably, like the previous release, there are a couple of changes coming for the iPhones.  iOS 16.2 Update Release Date So far, Apple has not announced a release date for iOS 16.2 update. Reportedly, the […]

Business
Dec. 8, 2022

300 Microsoft Employees Create Employee Union, First Time Ever: This Is How Microsoft Reacted

Around 300 workers at Microsoft Corp.’s ZeniMax Studios have commenced the process of forming a union which is said to be the first at the software giant in the US.  Here, Microsoft Corp.’s ZeniMax Studios known for popular video games including Skyrim and Fallout. Forming Union In Microsoft Corp Moreover, the quality assurance employees at […]

Business
Dec. 7, 2022

India Beats China In Air Travel Safety: Ranking Jumps From 102 To 48 In Global Aviation Safety

India’s air safety protocols and executions have improved drastically over the years, as validated by the findings of a specialized agency of the United Nations, the International Civil Aviation Organization or ICAO. The UN watchdog has upgraded India’s ranking in terms of aviation safety to the 48th position, jumping past the rankings of countries like […]

Recent Posts

Related Videos

   

Subscribe Now!

Get latest news and views related to startups, tech and business

who's online