Stock Market Latest News: Paytm’s Loan Disbursal Jumps By 374%
- Stocks Updates
Sahil Patil- 0
- 8 minutes read
Paytm (Pay Through Mobile), one of the most significant mobile payments and eCommerce platforms in India, has lately enjoyed its offline payment leadership. The stock market latest news on Paytm states that the Vijay Shekhar Sharma-backed company has crossed a new milestone. The company has recorded over 5.5 million merchants paying subscriptions for offline payment devices by the end of this November. The fintech company has also sustained growth in payments and loan distributions, as the stock market live updates today mentioned.
Stock Market Live Updates Today: Paytm’s Take On The Growth
The Noida-based digital payments company, Paytm, has seen a loan disbursal at an annual run rate of ₹39,000 crore which is $4.8 billion in November. According to the stock market latest news, it continued to enjoy accelerated growth in the disbursements via the platform.
As stated in the regulatory filing, the first two months of the Q3FY23, ended last month, and the value of the disbursed loan by the fintech giant leaped by 374% YoY to ₹6,292 crores. On the contrary, the number of loans disbursed rose by 150% YoY to 6.8 million cumulative loans.
Paytm mentioned in the current filing and in the stock market live updates today,
"We see a significant growth runway given low current penetration, while we continue to work with our partners to remain focused on the quality of the book."
In addition to this, Paytm has confirmed in the stock market news of India that they will continue to lead the offline payments having over 5.5 million merchants that currently pay a subscription for payment devices. In the first two months of the third quarter of 2021, that company had 1.6 million Paytm devices. That said, the fintech giant has added over 3.9 million new devices in the last 12 months till November 2022. Thus, the total Paytm device deployment in Q2FY23 stood at 4.8 million who made payments on their devices.
Paytm said,
"With our subscription as a service model, the strong adoption of devices drives higher payment volumes and subscription revenues while increasing the funnel for our merchant loan distribution."
Alongside this, the Paytm Super App enjoys growing consumer engagement with the average MTU in the first two months of Q3 as noted in the stock market news of India. The app generated 84 million acquiring a 33% YoY growth, mentioned stock market latest news. Besides, in the first two months of the Q3FY23, the total merchant GMV processed via its platform aggregated to ₹2.28 lakh crore which is $28 billion. The company has recorded a growth of 37% YoY in the stock market news of India. For related and live stock market news, follow us at https://www.newsmagnify.com/category/stocks/
The fintech giant has also mentioned in the stock market today news that in the past few quarters, the focus of the company was on the payment columns generating profitability for the company, either from the direct upsell potential or via the net payments margin.
Where Is Paytm In The Stock Market Today?
The latest stock market today news states that the Paytm stock will be the focus this week as the board of directors of the company will meet on the 13th of December. The BOD meeting will focus on a proposal for the buyback of the completely paid equity shares of Paytm.
On Monday, stock market today news mentioned that the Paytm stock traded volatile, tracking a bearish market. At almost 9:42 am, the stock in the stock market live updates today had performed at ₹540.55 and was down by 0.82%. The Paytm stock had touched an intraday high and low of ₹554.70 and ₹537 respectively. Currently, the market cap of the company stands at ₹35,122 crores.
