Focus is on payment volumes that generate profitability, says fintech company
One97 Communications, which owns fintech firm Paytm, reported on Wednesday a 167 per cent year-on-year (YoY) growth in the value of loan disbursements for the quarter-to-date period.
Paytm distributed loans worth Rs 14,845 crore in Q1 FY24, compared to Rs 5,554 crore in Q1 FY23.
The company said it distributed 12.8 million loans in Q1 FY24 compared to 8.5 million in the same period the previous financial year, marking 51 per cent year-on-year growth.
“Our focus remains on the asset quality by continuously reviewing with our partners cohort data and tightening credit policy wherever needed proactively.
