Paytm loan book surges 254% in Feb with sustained rise in consumer base

As per its monthly performance update, the company’s consumer base continues to expand, with average monthly transacting users (MTU) at 89 million for quarter-to-date, up 28% year-over-year

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

According to its monthly performance update, the company’s consumer base continued to expand, with average monthly transacting users (MTU) of 8.9 crore for the quarter-to-date, increasing 28 percent over February 2022.

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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), at an on-year growth of 41 percent.

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

In Q3 FY23, Paytm’s revenue rose 41 percent to Rs 2,062 crore compared to the year-ago period, while net loss narrowed to Rs 392 crore from Rs 778 crore.

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