Paytm narrows loss, sees revenue drop but growth in financial services and merchant base.

Paytm, India's leading digital payments company, reported a narrowed consolidated loss of Rs 208.3 crore in the December quarter, down from Rs 219.8 crore last year. Despite a 36% year-on-year drop in revenue to Rs 1,828 crore, Paytm saw a 10% quarter-on-quarter revenue increase, driven by higher GMV and financial services revenue growth of 34%. The company's cash balance surged to Rs 12,850 crore, partly due to a $280 million stake sale in Japan's PayPay. Paytm also added 500,000 merchant subscribers, reaching 1.17 crore.

2 months ago
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