Paytm's loan disbursals jump 330 per cent in December, GMV up 38 per cent

The number of loans disbursed jumped 117 per cent in December 2022 as compared to December 2021

Paytm, India's digital payments and financial services company, saw a 330 per cent jump year-on-year (YoY) in loan disbursals in December 2022. According to a regulatory filing, it disbursed 3.7 million loans worth Rs 3,665 crore in December. The number of loans disbursed was up 117 per cent YoY. 

"The number of loans grew 117 per cent YoY to 3.7 million for December, and 137 per cent YoY to 10.5 million cumulative loans for the three months ended December 2022," it said in the filing. 

In the quarter ending December 2022, the loan value rose 357 per cent from Rs 2,181 crore in the quarter ending December 2021 to Rs 9,958 crore in the quarter ending December 2022. 

The company's monthly transacting users (MTU) was up 32 per cent from 64 million in December 2021 to 85 million in December 2022. The Gross Merchandise Value (GMV) that was processed through the platform saw a 38 per cent growth YoY in December. 

"The total merchant GMV processed through our platform for the quarter ended December 2022 aggregated to Rs 3.46 trillion, marking a YoY growth of 38 per cent," it said. 

In December, at Business Standard's BFSI Insight Summit in Mumbai, Paytm CEO and founder Vijay Shekhar Sharma said that there would be no more cash burn in the business and that the company was "far ahead" in re-setting its ambition on reducing the expenses. 

"It has got decided last month that it (cash burn) would no more be continuing. As far as Paytm is concerned, we have publicly declared that we are far ahead of our ambitions - far meaning the border of magnitude ahead - in terms of re-setting our cash burns," Sharma said. 

Paytm had net cash, cash equivalents and an investable balance of Rs 91.82 billion at the end of September, according to its quarterly earnings report. 

On Sunday, it announced the appointment of Surinder Chawla as the managing director and CEO of its Paytm Payments Bank.