Paytm’s consolidated net loss narrows to Rs 392 crore in third quarter

Digital financial services firm One97 Communications on Friday said it has narrowed its consolidated net loss to Rs 392 crore in the third quarter ended December 2022.

The company had posted a net loss of Rs 778.4 crore in the same period a year ago.

Its revenue from operations jumped about 42 per cent to Rs 2,062.2 crore during the quarter from Rs 1,456.1 crore in the year-ago period.

Paytm founder and CEO Vijay Shekhar Sharma said the company during the reported quarter has achieved its target for operational profit, excluding ESOP cost.

“I wrote to you on April 6, 2022, and set a target for EBITDA before ESOP cost breakeven by the September 2023 quarter.