Paytm's Remarkable Turnaround in Q1

MUMBAI: In a significant turnaround, Paytm has swung to profit in the June quarter, marking its first profitable quarter from its core business after two consecutive quarters of losses. The fintech giant reported a consolidated net profit of Rs 123 crore, a stark contrast to the Rs 840 crore loss in the same quarter last year.

This achievement comes as Paytm intensifies its efforts to streamline operations and reduce costs, leveraging AI technologies. Despite previous challenges, including the RBI's directive to wind down its banking unit due to non-compliance, Paytm has demonstrated resilience and strategic adaptability.

Revenue Growth and Strategic Moves

Revenue from operations saw a notable increase, rising to Rs 1,917.5 crore in Q1 from Rs 1,501.6 crore. This growth is attributed to the company's focused strategy on its core business and the one-time gain from the sale of its entertainment ticketing business to Eternal (formerly Zomato), which contributed to its profit in Q2FY25.