Paytm Narrows Losses as Revenue Sees Q-o-Q Growth

One97 Communications, owner of Paytm, reported a consolidated loss of Rs 208.5 crore for Q3 ending December 31, 2024, down from Rs 221.7 crore a year earlier. The company's revenue fell by 35.8% year-on-year to Rs 1,827.8 crore, but rose 10% quarter-on-quarter.

Fintech giant One97 Communications, which operates under the brand Paytm, has significantly narrowed its consolidated loss to Rs 208.5 crore for the third quarter ending December 31, 2024. This marks an improvement from the Rs 221.7 crore loss reported in the same quarter last year.

The company's revenue from operations showed a decline of 35.8% to Rs 1,827.8 crore compared to Rs 2,850.5 crore in the year-ago period. However, on a positive note, the revenue increased by 10% on a quarter-on-quarter basis, highlighting potential recovery signs.

Paytm's strategic adaptations are seemingly beginning to impact its financial performance positively, despite the challenging market conditions which led to a significant year-over-year revenue dip.

(With inputs from agencies.)