Digital financial services firm One97 Communications on Monday said that its loan disbursals reached an annualised run rate of around Rs 39,000 crore in November this year.
One97 Communications (OCL), which owns Paytm brand, had reported loan disbursals at an annualised run rate of around Rs 37,000 crore in October.
"Our loan distribution business (in partnership with top lenders) continues to witness an accelerated growth with disbursements through our platform now at an annualised run rate of Rs 39,000 crore in the month of November," Paytm said in a regulatory filing.
The GMV (Gross Merchandise Value) processed through Paytm platform grew 37 per cent for the two months ended November 2022, aggregating to Rs 2.28 lakh crore from Rs 1.67 lakh crore a year ago.
The value of loans disbursed through Paytm grew by over four-fold on year-over-year (y-o-y) basis to Rs 6,292 crore in November from Rs 1,328 crore, while the number of loans disbursed grew two-and-a-half times to around 68 lakh from 27 lakh.
"We see a significant growth runway given low current penetration, while we continue to work with our partners to remain focused on the quality of the book," Paytm said.
The merchant device subscription of the company grew over three-fold to 55 lakh from 16 lakh a year ago.
The average monthly transacting users of the company grew by 33 per cent to 8.4 crore for the two months ended November 2022 from 6.3 crore in November 2021, according to the filing.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Dec 12 2022 | 6:23 PM IST