Paytm narrows loss to Rs 292 crore in Jul-Sept qtr

Fintech company One97 Communications, which operates under the Paytm brand, on Friday reported a narrowing of consolidated loss to Rs 291.7 crore in the second quarter ended September 30, 2023.

The company had posted a loss of Rs 571.5 crore in the same period a year ago.

The consolidated revenue from operations of the company increased by about 32 per cent to Rs 2,518.6 crore during the reported quarter from Rs 1,914 crore in the September 2022 quarter.

“We continued our momentum with 32 per cent YoY revenue growth to Rs 2,519 crore, led by an increase in GMV, merchant subscription revenues, and growth of loans distributed through our platform,” the company said in a statement.