Paytm Posts Fifth Consecutive Operating Profit Amid Festive Sales

Company's consolidated revenue rises 38%, with payments business contributing 61% to the total.

Paytm, the Indian digital payments firm, has posted an operating profit for the fifth consecutive quarter, largely due to festive season-led sales.
The company's consolidated revenue rose 38% to 28.51 billion rupees, with the payments business contributing 61% to the total.
Revenue from Paytm's financial services business, including the loan segment, rose 36% for the quarter, making up 21% of the total revenue.
Despite the central bank tightening rules on consumer spending, Paytm's value of buy now, pay later (BNPL) loans grew 44% from last year, but was down 17% sequentially as the company slowed down its postpaid loan distribution.
Paytm's average loan ticket size increased to 168,000 rupees from 120,000 rupees a year ago as it looks to expand to high-ticket loans.