Paytm reported the ₹2,048 crore transaction with food aggregator Zomato as an "exceptional gain" of ₹1,345.4 crore, resulting in the company turning profitable after losses in previous quarters. Paytm's losses had swelled to ₹838.9 crore in Q1FY25 after the Reserve Bank of India (RBI) early in 2024 put restrictions on its banking affiliate.
Meanwhile, for the company, year-on-year (Y-o-Y) revenue from operations declined 34.1 per cent from ₹2,518.6 crore in Q2FY24 to ₹1,659.5 crore in Q2FY25. Sequentially, revenue grew 10.5 per cent from ₹1,501.6 crore in Q1FY25.
The company's founder and CEO Vijay Shekhar Sharma said he was confident that Paytm would solve the problem of a concentration risk in the Unified Payments Interface (UPI) ecosystem and would not remain a mediocre player in the market.
This story is from the October 23, 2024 edition of Business Standard.
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This story is from the October 23, 2024 edition of Business Standard.
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