Paytm provided an update on its operating performance for the quarter ending March 2022, stating that the number of loans disbursed through its platform increased by 374 percent year on year (YoY) to 6.5 million loans in Q4 FY 2022, with the value of loans disbursed increasing by 417 percent YoY to 3,553 crore.
Paytm, which provides online and offline merchants with omnichannel payment solutions, saw its total merchant payment volume (GMV) rise 104 percent year on year to 2.59 lakh crore. “Despite the previous quarter’s impact of the festive season,” the fintech firm said in an exchange filing, “we saw strong quarter-on-quarter trends.”
Paytm claims to have deployed 2.9 million devices in stores in just three years and is currently deploying 1,000 devices per day. The company expects a rise in the number of merchants eligible for loans as a result of the increased engagement it sees with our device merchants.
“Our shares are down significantly from the IPO price, owing to the volatile market conditions for high-growth stocks around the world. You can rest assured that the entire Paytm team is dedicated to growing a large, profitable company and maximising long-term shareholder value. As a result, my stock grants will only be vested in me once our market cap has crossed the IPO level on a consistent basis,” said Paytm Founder and CEO Vijay Shekhar Sharma.