Focused Execution – Our lending business achieves strong growth in Q1FY23, Super App sees record jump in MTU

byDilip PrasadLast Updated: August 17, 2022
Focused execution – Our lending business achieves strong growth in Q1FY23

Our strong growth momentum continues into the first quarter of FY23, as we remain focused in our business. Here’s our business operating update for Q1 FY23.

We continue to achieve new milestones in lending business with disbursements now at an annualised run rate of ~Rs 24,000 Cr ($3 billion) through our platform in June. We also saw a record high of Monthly Transacting Users for the Paytm Super-App in the month of June at 76 million.

The number of loans disbursed through our platform grew 492% y-o-y to 8.5 million loans in the quarter ending June 2022, while the value of loans disbursed grew 779% y-o-y to Rs 5,554 Cr ($703 million). The rapid growth of our lending products brings us an attractive profit pool. We are also seeing increases in average ticket size due to the scale-up of the personal loans business in particular.

The total merchant GMV processed through our platform for the quarter ending June 2022 aggregated to approximately Rs 2.96 Lakh Cr ($37 billion), marking a y-o-y growth of 101%.

The Paytm Super App continues to see heightened consumer engagement for the company’s comprehensive payment offerings. We continue to achieve new records in user engagement, with the average monthly transacting users (MTU) for the quarter ending June 2022 at 74.8 million, registering a growth of 49% Y-o-Y. For the month of June alone, the MTU stood at 75.9 million.

We continue to strengthen our leadership in offline payments, with deployment of 3.8 million devices at merchant stores across the country. The strong adoption of devices also has a correlation with the rise in merchants eligible for loans from our platform.

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