Paytm in the green

Paytm reported strong operating performance for two months ended in May.

The company stated:

? Lending business witnesses rapid growth, with 5.5 million loan disbursals during the two months ending May 2022 (y-o-y growth of 471%). This aggregates to loan value of Rs 3,576 Cr ($476 million) in the first two months of the quarter (y-o-y growth of 829%)

? Continued leadership in Offline payments with number of devices deployed crossing 3.4 million as of May 2022

? Increased user engagement on Paytm Super App with average monthly transacting users (MTU) at 74.3 million for the two months ending May 2022, up 48% y-o-y

? 105% Y-o-Y increase in merchant payment volumes (GMV) for the two months ending May 2022 at Rs 1.96 Lakh Cr ($26.2 billion)

The market is currently happy with this performance; also with many FIIs and fund houses beginning to track the stock, it nowadays see’s more buying. The stock price today rose 3% to hit an intraday high at Rs.624 though its really a long way off from its IPO price of Rs.2150.