PayTM jumps after a good performance update.

PayTM jumps after a good performance update.

One 97 Communications (PayTM) rose 3.22% to Rs 560.30. The company said it started in FY 2023 strongly, proliferating its lending business. Paytm said its lending business saw a total disbursal of 2.6 million loans in April 2022, a yo-y growth of 449%. This aggregates to a total loan value of Rs 1,657 crore during the quarter, yo-y growth of 749%. This translates into an annualized run rate of approximately Rs 20,000 crore. The offline payments business accelerated as the total number of devices deployed jumped to 3.2 million, with 0.3 million devices deployed in April 2022. The company expects this growth to contribute to a rise in the number of merchants eligible for loans.

On a consolidated basis, Paytm reported a net loss of Rs 778.50 crore in Q3 FY22.

The total merchant Gross Merchandise Value (GMV) was processed through the platform during April 2022, which aggregated to approximately Rs 0.95 lakh crore, marking a yo-y growth of 102. User engagement on Paytm Super App showed continued growth, with monthly transacting users (MTU) at 73.5 million in April 2022, up 44%. Paytm is one of the largest payment platforms in India based on the number of consumers. The number of merchants, transactions, and revenue ended in March 2021. On a consolidated basis, Paytm reported a net loss of Rs 778.50 crore in Q3 FY22. Higher than the net loss of Rs 535.50 crore in Q3 FY21. Net sales jumped 88.6% to Rs 1,456.10 crore in Q3 FY22, over Rs 772 crore in Q3 FY21. The company’s board will consider Q4 results on 20 May 2022.

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