Paytm Reports Profit Growth With Revenue Crossing Rs 2264 Crore
Fintech company Paytm posted strong quarterly growth with higher revenue and improved profits driven by better loan recoveries and reduced operational expenses during the financial year.
- Paytm quarterly profit rises by 8 percent
- Paytm revenue reaches Rs 2264 crore
- Paytm shares gain after positive results
Digital payments and fintech major Paytm announced improved financial results for the quarter ending March, reporting steady profit growth along with a sharp rise in operational revenue.
The company posted a consolidated profit of Rs 183 crore during the fourth quarter, registering an increase of nearly 8 percent compared to the same period last year. Paytm also reported a full year consolidated profit of Rs 552 crore.
According to the company, better recovery in personal loans, improved business conditions and lower operational expenses played a major role in boosting overall performance. The latest results marked a major turnaround after the company had reported losses of Rs 545 crore during the March quarter of the previous financial year.
Paytm’s operational revenue also recorded healthy growth during the quarter. Revenue increased from Rs 1912 crore to Rs 2264 crore, reflecting an 18.4 percent rise compared to the previous year.
On a yearly basis, operational revenue climbed by 22.2 percent to reach Rs 8437 crore from Rs 6900 crore. The company said both online and offline business segments contributed positively to the growth momentum.
Following the announcement of the quarterly earnings, Paytm shares witnessed strong buying interest during Thursday’s trading session. The stock surged around 8 percent as investors responded positively to the company’s improving financial position.
Paytm President and Group Chief Financial Officer Madhur Deora stated that the company was seeing encouraging performance across multiple business verticals and remained optimistic about sustaining growth in the coming quarters.
The latest earnings report is being viewed as a positive sign for the fintech sector as digital payment platforms continue focusing on profitability and long term business stability.
