Paytm trims losses to Rs 290 crore in Q2, total income increases 8%

One97 Communications, the parent company of fintech major Paytm, saw its net loss narrow to Rs 290.5 crore on a consolidated basis during the second quarter of the financial year (Q2 FY24) from a loss of Rs 357 crore in Q1 FY24.

The company had posted a net loss of Rs 571.1 crore in the second quarter of last financial year (Q2 FY23).

The Noida-based fintech firm’s total income rose 8 per cent on a quarter-on-quarter (Q-o-Q) basis from Rs 2,464.2 crore in Q1 to Rs 2,662.5 crore in Q2. On a year-on-year (Y-o-Y) basis, the company’s total income rose 32.2 per cent from Rs 2,013.6 crore.