Paytm had said that the platform’s lending and payments business achieved a milestone annualised run rate of Rs 24,000 crore in June. The company also has its highest monthly transaction users (MTU) — its super app hit 76 million this month.

The company said the app had the highest consumer engagement, with 74.8 million monthly transacting users (MTU) in the quarter ended June. A year-on-year increase of 49%. “The Paytm super app continues to see increased consumer engagement with the company’s comprehensive payment offering. In June alone, the MTU hit 75.9 million,” it added.

In addition, the lending business also expanded to 8.5 million loans in the June quarter, up 492% year-on-year. The company’s total loans in the June quarter are now at Rs 5,554 crore, up 779% year-on-year.

“The rapid growth of our loan products has created attractive profit pools for us. We have also seen an increase in average ticket size due to the expansion of our loan business,” Paytm said in a release.

In terms of merchant payment volume in the June quarter, Paytm grew 101% year-on-year to Rs 2.96 lakh crore.
Regarding offline payments, the company said it used about 3.8 million devices in total, cementing its lead. “The widespread adoption of the device is also associated with an increase in merchants eligible for loans from our platform,” the company noted.