On Monday, Digital Financial Services firm One97 Communications, operating under the Paytm brand, sent around a 17% increase in annualised run rate (ARR) of loan disbursals since August at around Rs 34,000 crore in September. ARR of loan disbursals stood at Rs 29,000 crore in August.

“Our loan distribution business in partnership with famous lenders endures to witness augmented growth with disbursements through our platform now at an annualised run rate of Rs 34,000 crore in September,” the company mentions in a regulatory filing.

The aggregate number of loans disbursed by Paytm propagated over threefold to about 9.2 million in the quarter ending September 2022, from 2.8 million in 2021. The loan value disbursed through Paytm hiked close to six times to Rs 7,313 crore from Rs 1,257 crore in the September 2021 quarter. The company’s usual Monthly Transaction User (MTU) for the quarter that ended September 2022 increased by 39% to 7.97 crores on a YoY basis.

During the September 2022 quarter, the overall merchant Gross Merchandise Value (GMV), the total payments volume administered by the merchants, grew 63% to a combined value of Rs 3.18 lakh crore on a YoY basis, as per the filing.