Paytm's stock is up 471 percent after a jump in loan disbursements in April and May.

  • June 15, 2022, 12:47 p.m.

Shares of One 97 Communications, which operates Paytm, rose on June 15 after the fintech major reported strong operating performance for the two months ended in May.

Paytm said its lending business maintained its strong performance from the previous quarter, with loan disbursements increasing 471 percent year on year to 5.5 million in April-May.

In value terms, the disbursement stood at Rs 3,576 crore in the first two months of this quarter, representing an 829 percent increase over last year."We are also seeing increases in the average ticket size due to a scale-up of the personal loans business in particular," Paytm said.

Paytm also reported strong growth in merchant payments, with merchant payments volume increasing 100 percent year on year and gross merchant value processed reaching Rs 1.96 lakh crore in the last two months.

Overall, Paytm reported that monthly transacting users on its super app increased 48 percent year on year to 74.3 million in the current quarter.

Shares of Paytm have remained under pressure ever since debuting on the bourses in November 2021. The stock has dropped more than 70% from its IPO price of Rs 2,150 per share.

Nonetheless, the stock has recovered more than 20% since hitting a 52-week low of Rs 510.1 recently.

Paytm shares were up 1.5 percent at Rs 615.6 on the National Stock Exchange at 11:00 a.m.

Author : Rajdhani Delhi Representative

Rajdhani delhi representative

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