Paytm, India’s leading digital payments and financial services company and the pioneer of QR and mobile payments, has just shared its monthly business operating performance update for Q2 FY23.
The company’s lending business has reached an annualized run rate of over ₹34,000 crore ($4.1 billion), while GMV for the quarter stood at ₹3.18 lakh crore ($39 billion), up 63 per cent year-on-year.
Paytm has disbursed 9.2 million loans during the quarter ending September 2022, marking a year-on-year growth of 224 per cent, with a total loan value of Rs 7,313 crores ($894 million), a y-o-y growth of 482 per cent. The company has further strengthened its leadership in offline payments with the number of total devices deployed crossing 4.8 million. Consumer engagement is at its highest on the Paytm Super App with average monthly transacting users (MTU) at 79.7 million for Q2 FY23, up 39 per cent year-on-year.
With this, Paytm has further strengthened its growth during the second quarter after starting off the financial year on an excellent note. In Q1FY23, the company registered an 89 per cent year-on-year revenue growth of ₹1,680 crores while EBITDA (Before ESOP) loss reduced to Rs 275 crore, marking an improvement of Rs 93 crore Q-o-Q.
In addition, the company’s contribution profit grew 197 per cent Y-o-Y to Rs 726 Cr, leading to an increase in contribution margin to 43 per cent of revenues in comparison to 35 per cent in Q4FY22.