NEW DELHI: Shares of surrendered the 5 per cent gain notched up earlier and were last down 2 per cent as investors locked in profits.
The scrip had gained earlier as the digital payments firm reported an over four-fold increase in loan disbursals from its platform both in terms of numbers and value in the quarter ended December 31, 2021.
Paytm disbursed 44 lakh loans worth Rs 2,180 crore during the quarter.
Shares of One97 Communications, Paytm’s parent, climbed to a high of Rs 1,215 as against Rs 1,158 at previous close on the National Stock Exchange. The counter was last at Rs 1,134.30.
The value of loans disbursed through the platform during the quarter was Rs 2,180 crore, an increase of 365 per cent YoY, the company said in an exchange filing. Paytm said it has seen stellar growth in each of the lending products, i.e. Paytm Postpaid (Buy-Now-Pay-Later), Personal Loans and Merchant Loans.
The company clarified that all lending is done in partnership with banks and NBFCs, and no First Loan Default Guarantee (FLDG) was given to any lender for its lending business.
“Our monthly transacting users (MTU) showed consistent growth in FY21 and in the first two quarters of FY22. The trajectory has continued in the third quarter of FY 2022 with 64.4 million average MTUs, growth of 37 per cent YoY over the 47.1 million average MTUs in Q3 FY 2021,” the company said in the exchange filing.
GMV (gross merchandise value) growth continued in the third quarter continued to show momentum with GMV processed through its platform during the quarter aggregating to approximately Rs 2,50,100 crore ($33.6 billion), a growth of 123 per cent YoY compared to Q3FY21, the exchange filing showed.