Paytm shares Q4 business update, GMV rises 104%

Sharing its update on the operating performance for the quarter ending March 2022, Paytm said that the number of loans disbursed through its platform grew 374% year-on-year (YoY) to 6.5 million loans in Q4 FY 2022, while the value of loans disbursed was 3,553 crore, YoY growth of 417%.

Paytm, that offers omnichannel payment solutions to online and offline merchants, saw its total merchant payment volume (GMV) rising 104% YoY to 2.59 lakh crore. “We saw strong quarter-on-quarter trends, despite the previous quarter having an impact of the festive season,” the fintech firm said in an exchange filing.

Paytm said it has seen record growth in user engagement on the Paytm platform, with average monthly transacting users (MTU) in the fourth quarter of FY 2022 at 70.9 million, growth of 41% from the same quarter last year.

In just 3 years, Paytm said it has deployed 2.9 million devices in stores and is currently deploying about 1,000 devices per day. Due to the higher engagement that it see with our device merchants, the company expects a rise in the number of merchants eligible for loans.

“Against the backdrop of volatile market conditions for high growth stocks globally, our shares are down significantly from the IPO price. Rest assured, the entire Paytm team is committed to build a large, profitable company and to create long-term shareholder value. Aligned with this, my stock grants will be vested to me only when our market cap has crossed the IPO level on a sustained basis,” said Vijay Shekhar Sharma, Founder and CEO of Paytm.

Shares of Paytm surged more than 3% to 630 apiece on the BSE in Wednesday’s early deals after it released its Q4 business update.

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