Paytm says it disbursed 15.2 million loans in FY22

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Bengaluru: disbursed 15.2 million loans in fiscal 2022 (FY22), a more than five-fold growth from FY21 when the total number of loans disbursed on the platform was 2.6 million, according to the data published by its parent entity One97 Communications on Sunday.

The total value of loans disbursed in FY22 stood at Rs 7,623 crore, according to data released by the company on Sunday.

The disbursed loans were worth Rs 1,657 crore as of April 2022, he said.

The improved operating metrics come even as One97 Communications’ share price is trading 75% lower than its IPO price of Rs 2,150 per share.

Shares of One97 Communications closed at Rs 543.3 each on May 13.

“We’re also seeing increases in average note sizes due to the surge in personal loan activity in particular,” One97 Communications said in its exchange filings.

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Paytm offers personal loans, merchant and postpaid loans, its buy it now, pay later (BNPL) offering through partnerships with financial institutions.

Additionally, Paytm also said that the total Gross Goods Value (GMV) processed by the platform was Rs 8.52 trillion in FY22, more than the recorded Rs 4 trillion. in fiscal year 21.

According to the company, its monthly transacting users grew to 73.5 million in April 2022, registering a 44% year-over-year growth. The total number of devices, including point-of-sale (PoS) and its Soundbox offering, rose to 3.2 million in April, the company said.

“We continue to maintain our stronghold in offline payments with the deployment of 3.2 million in-store devices, with an average rate of 300,000 deployments per month. We expect this growth to contribute to an increase in the number of merchants eligible for loans,” he said.

Earlier this month, Paytm granted 3.97 million stock options to employees under the One97 Employees Stock Option Scheme 2019 (“Esop 2019”). The strike price of these stock options is Rs 9. The Noida-based fintech company also awarded 177,114 shares to employees who vested their options.

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