Mumbai: Fintech major One97 Communications, the company behind the payments platform Paytm, on Monday reported that its consolidated loss narrowed to Rs 208.3 crore for the third quarter (Q3) of financial year 2024-25 (FY25). During the same period last year, the company had reported a loss of Rs 219.8 crore.
This follows the company’s return to profitability in the September quarter (Q2FY25), with a profit of Rs 930 crore, driven by the sale of its ticketing business to Zomato. Despite this, the company still posted a loss for the October-December quarter.
Paytm’s consolidated revenue from operations dropped 36 per cent year-on-year (Y-o-Y) to Rs 1,827.8 crore, down from Rs 2,850.5 crore in Q3FY24. Sequentially, however, the firm’s revenue rose 10 per cent from Rs 1,659.5 crore.
The company also reported a narrower sequential loss before exceptional items, as its digital payments business showed signs of recovery following the closure of its payments bank unit.
Shares of Paytm were trading at Rs 908 on the BSE, up nearly 1 per cent, at 11:30 am on Monday.
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