Confident Paytm will solve ‘concentration risk’ in UPI ecosystem: CEO

One97 Communications, which operates fintech firm Paytm, on Tuesday announced a consolidated profit of Rs 928.3 crore in Q2FY25, compared to a loss of Rs 290.5 crore a year ago, on the back of selling its movie ticketing and events business.

Paytm reported the Rs 2,048 crore transaction with food aggregator Zomato as an “exceptional gain” of Rs 1,345.4 crore, resulting in the company turning profitable after losses in previous quarters. Paytm’s losses had swelled to Rs 838.9 crore in Q1FY25 after the Reserve Bank of India (RBI) early in 2024 put restrictions on its banking affiliate.