Paytm shares August biz update, says loan disbursals at Rs 5,517 crore; stock up
Paytm said it remained focused on the portfolio performance of lending partners, and growth may be subdued until the industry outlook improves.
- Sep 5, 2023,
- Updated Sep 5, 2023 9:27 AM IST
One 97 Communications Ltd (Paytm) on Tuesday said the value of loans that it distributed through the Paytm platform stood at Rs 5,517 Cr ($667 million) in August. In a business update, Paytm said its merchant payment volumes (GMV) stood at Rs 3 lakh crore or ($36.3 billion) for the first two months of September quarter, up 43 per cent. It said it saw an increase in GMV of non-UPI instruments like EMI and cards.
Average monthly transacting users (MTU) stood at 9.4 crore for quarter to date (average for July & August 2023), up 20 per cent YoY. This, Paytm said, suggested a continued expansion of customer base.
Following the business update, the stock was trading 1.02 per cent higher at Rs 865.55 on BSE.
"Our leadership in payment monetization continues with number of merchants paying subscription for payment devices at 87 lakh as of August 2023, an increase of 42 lakh devices YoY," Paytm said. Paytm said its subscription as a service model has seen strong adoption of devices, which has driven subscription revenues and higher payment volumes, while increasing the funnel for its merchant loan distribution.
Paytm said its loan distribution business (in partnership with lender partners) continues to gain scale with disbursements of Rs 10,710 crore ($1.3 billion, YoY growth of 137epr cen) and 88 lakh loans (YoY growth of 47 per cent) disbursed in quarter to date (for July & August 2023) through the Paytm platform.
Paytm said it remained focused on the portfolio performance of lending partners, and growth may be subdued until the industry outlook improves.
"High quality outcomes for our partners enables us to expand our lending partnerships. We currently have 8 lending partners (including for credit card distribution) and we aim to onboard 3-4 partners in FY2024," it said.
Paytm said it has been able improve credit quality for Paytm Postpaid, where the ECL has reduced to a range of 0.65-0.85 per cent from a range of 0.75-1 per cent in Q4FY23.
One 97 Communications Ltd (Paytm) on Tuesday said the value of loans that it distributed through the Paytm platform stood at Rs 5,517 Cr ($667 million) in August. In a business update, Paytm said its merchant payment volumes (GMV) stood at Rs 3 lakh crore or ($36.3 billion) for the first two months of September quarter, up 43 per cent. It said it saw an increase in GMV of non-UPI instruments like EMI and cards.
Average monthly transacting users (MTU) stood at 9.4 crore for quarter to date (average for July & August 2023), up 20 per cent YoY. This, Paytm said, suggested a continued expansion of customer base.
Following the business update, the stock was trading 1.02 per cent higher at Rs 865.55 on BSE.
"Our leadership in payment monetization continues with number of merchants paying subscription for payment devices at 87 lakh as of August 2023, an increase of 42 lakh devices YoY," Paytm said. Paytm said its subscription as a service model has seen strong adoption of devices, which has driven subscription revenues and higher payment volumes, while increasing the funnel for its merchant loan distribution.
Paytm said its loan distribution business (in partnership with lender partners) continues to gain scale with disbursements of Rs 10,710 crore ($1.3 billion, YoY growth of 137epr cen) and 88 lakh loans (YoY growth of 47 per cent) disbursed in quarter to date (for July & August 2023) through the Paytm platform.
Paytm said it remained focused on the portfolio performance of lending partners, and growth may be subdued until the industry outlook improves.
"High quality outcomes for our partners enables us to expand our lending partnerships. We currently have 8 lending partners (including for credit card distribution) and we aim to onboard 3-4 partners in FY2024," it said.
Paytm said it has been able improve credit quality for Paytm Postpaid, where the ECL has reduced to a range of 0.65-0.85 per cent from a range of 0.75-1 per cent in Q4FY23.