The company said in a stock exchange briefing that the value of loans disbursed through our platform during the quarter was Rs 2,180 crore, an increase of 365 per cent year-on-year. Paytm said it has seen stellar growth in both lending products such as Paytm Postpaid (Buy Now, Pay Later), Personal Loans and Merchant Loans.
The company clarified that all lending is done in partnership with banks and non-bank financial companies, and that no first loan default guarantee (FLDG) has been given to any lender for its lending business.
Paytm said GMV’s growth continued in the third quarter. GMV processed through its platform for the quarter which was amassed to nearly Rs 2,50,100 crore (US$33.6 billion), a 123 per cent year-on-year growth compared to Q3 FY21.
“Monthly Transaction Users (MTU) showed consistent growth in FY21 and the first two quarters of FY22. The path continued in Q3 FY22 with an average of 64.4 million MTUs, a 37 percent year-over-year growth compared to the average. 47.1 million MTUs in the third quarter of fiscal year 2021.
The company said that the total number of devices spread across the commercial base has increased from 9,000 lakhs on June 30, 2021 to nearly 13,000 on September 30, 2021 to nearly 20,000 lakh on December 31, 2021.
The company released its updates on the day its shares fell 6 percent, hitting a new low, after another revision of a downward price target by Macquarie.