Paytm Q3 Results: Profit skyrockets 971% QoQ to Rs 225 crore

Financial services technology platform Paytm on Thursday reported a consolidated net profit of Rs 225 crore in the third quarter. This compares with a loss of Rs 208 crore in the year-ago period. On a sequential basis, profit jumped 971% from Rs 21 crore posted in the preceding September quarter.

Revenue from operations in the reporting period increased 20% YoY to Rs 2194 crore. On a sequential basis, revenues improved 6% quarter-on-quarter.

The revenue growth was led by higher payments GMV (gross merchandise value), merchant subscriptions, and distribution of financial services revenue.