Paytm Q3 Results: Net loss narrows to Rs 392 cr, co turns profitable at EBITDA level

One97 Communications Ltd reported a consolidated net loss of Rs 392 crore for the quarter ended December, but the payment gateway services provider turned positive at the operating level three quarters ahead of its guidance. However, the net loss has narrowed from Rs 779 crore a year ago.

The reported operating profit improved by Rs 424 crore from the year-ago period, and margin improved to 2% of revenue from -27% year ago, due to sustained improvement in contribution profit and strong operating leverage.