Despite incurring quarterly losses, fintech major Paytm continued to see steady growth in its lending business in the September quarter this fiscal.
We exited Q2 FY23 with disbursements in our loan distribution business at an annualised run-rate (ARR) of about Rs 34,000 crore,” Paytm shared.
More than 40 per cent of the disbursements were made to existing Paytm Postpaid [the Buy-Now-Pay-Later product] users.
More than 85 per cent of value disbursed this quarter was to merchants with a deployed Paytm payment device,” the company said in exchange filings.
This was driven by increasing user adoption and rising offline-online merchant acceptance, with the network reaching 15 million at the end of Q2 FY23.
It added, “Our collections efforts continue to deliver good performance, with indicative portfolio performance across loan products holding up well.
Source: BusinessToday
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