The GMV for the company’s merchant payments business registered a growth of 111 per cent from Rs 4 lakh crore to Rs 8.52 lakh crore during the financial year
Paytm Share: Vijay Shekhar Sharma, CEO of Paytm, clarified on Wednesday, 6 April, why Paytm’s shares have been declining since the listing of the IPO.
In a letter to investors, he said the volatile market conditions have been particularly unfavorable for high-growth stocks globally. The listing of Paytm shares took place in November 2021. Since then, the shares of Paytm have broken up to 60%.
Loan disbursement growth increased by 474%
At the same time, Paytm said that it has registered a growth of 478 percent in its loan disbursement in the financial year 2021-22. The company disbursed a total amount of Rs 7,623 crore through over 152.32 lakh loans, which is 441 per cent higher on a year-on-year basis in value terms.
In the fourth quarter of FY22, the company disbursed more than 65 lakh loans, an increase of 374 per cent from 44 lakh in the previous quarter. The value of these loans was Rs 3,553 crore.
111% increase in GMV
The Gross Merchandise Value (GMV) for the company’s merchant payments business registered a growth of 111 per cent during the financial year, rising from Rs 4 lakh crore to Rs 8.52 lakh crore. In this business, the company has to compete with BharatPe.
For the fourth quarter, the company recorded a GMV of Rs 2.59 lakh crore, marginally higher than Rs 2.50 crore in the previous quarter.
Most Monthly Users on Super App
The fintech company also said that its Super App is seeing the highest number of Monthly Transacting Users (MTU). The company’s app works as a platform to make payments, buy mutual funds, tickets, insurance etc. During the quarter, MTUs grew by 41 per cent to 710 lakhs as against 640 lakhs in the previous quarter.
The company is installing 1,000 POS machines daily
The company also installs Point of Sales (POS) as well as soundbox machines to help its merchants receive and report payments. In the quarter, Paytm has installed 29 lakh devices.
The company said, “In just 3 years, we have installed 2.9 million devices in stores and are currently installing 1,000 devices daily. Given the increasing engagement with our device merchants, we expect an increase in the number of merchants eligible for the loan.”
