NEW DELHI: Fintech firm One97 Communications, which operates under the Paytm brand, on Friday reported a narrowing of loss to Rs 358.4 crore.
The company had posted a loss of Rs 645.4 crore in the same period a year ago. The revenue from operations of the company increased by 39.4 per cent to Rs 2,341.6 crore during the reported quarter from Rs 1,679.6 crore in the June 2022 quarter.
The company said that its merchant payments volume (GMV) grew 37 per cent YoY to Rs 4.05 lakh crore in the April-June quarter of FY2023-24. “Paytm’s EBITDA before ESOP margin stood at 4 per cent on the account of consistent improvement in profitability due to strong revenue growth, increasing contribution margin and operating leverage,” the statement said.