Paytm stock rises on 471% surge in April-May loan disbursements – WeezerSongs

The shares of One 97 Communications, which manages Paytm and Paytm, climbed on June 15, after the fintech company reported an impressive operating performance over the two months ending in May.

Paytm announced that the loan business continued its impressive performance in the last quarter when loan repayments jumped 471 percent year-on-year from April to May up to 5.5 million.

The value of the disbursement was at around Rs 3,576 crore during the initial two months of the quarter, which is an increase of 829 percent over the previous year. “We are also seeing increases in the average ticket size due to a scale-up of the personal loans business in particular,” Paytm claimed.

In the realm of merchant payments also, Paytm reported strong growth in merchant payments volumes, which increased 100 percent over the year, with the total value of merchants processed averaging 1.96 lakh crore. 1.96 lakh crore over the past two months.

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In the overall picture, Paytm said that monthly transactions using its super app increased 48 percent year-on-year base to 74.3 million in the current quarter.

Shares of Paytm have been under pressure since their debut on the markets in November 2021. The stock has dropped over 70 percent from its initial price of Rs. 2,150 per share.

The stock has risen over 20 percent since the 52-week low was hit at Rs 510.1 just recently.

At 11:00 am the shares of Paytm were in the range of 1.5 percent to the price of 615.6 at the National Stock Exchange.

 

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