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One97 Communication, the parent of digital payments and financial services firm Paytm, said the platform disbursed loans worth Rs 12,554 crore, up 253% Year-on-Year (YoY) for the fourth quarter of the financial year ending March 2023.

The company’s customer base expanded with 90 million average monthly transacting users (MTU) for Q4, from 85 million in the previous quarter, overall clocking a 27% y-o-y growth. 

Overall, the company disbursed 11.9 million loans in the said quarter, a 82% YoY rise. Of this, Rs 4,468 crore were disbursed in March alone through the platform in partnership with lending firms.

In comparison, Paytm had disbursed 10.5 million loans worth Rs 9,958 crore in the previous quarter. 

“Our payment consumers and merchant base offer a large addressable market, thereby providing a long runway for growth. We continue to work with our partners to remain focused on the quality of the book,” it noted. 

Merchant Payment Volumes (GMV) for the quarter stood at Rs 3.62 lakh crore, with a YoY growth of 40%. 

This is up by 4% from the previous quarter. 

“Our focus over the past few quarters continues to be on the payment volumes that generate profitability for us, either through net payments margin or from direct upsell potential,” the exchange filing read. 

The company deployed 6.8 million subscription devices, including Soundbox and POS machines, as of March 2023, an addition of one million from the quarter before. Overall, it added 3.9 million devices in past 12 months. 

As of 12:07 pm, the company’s stock traded at Rs 645.65, up 1.15% on the NSE.