Key Points
BENGALURU, July 22 (Reuters) - Indian digital payments firm Paytm (PAYT.NS) reported a 39% rise in quarterly revenue, helped by soaring demand for loans...
One 97 Communications Ltd (PAYT.NS), parent of India's no. 2 digital payments app by market share, reported late Friday that revenue rose 39% year-on-year to 23.42 billion Indian rupees ($285.68 million) in the three-months ending June 30, from 16.80 billion rupees in the year-earlier period...
It reported an operating profit for a third straight quarter, despite a rise in employee-related expenses and a lack of government incentives...
That was lower than the previous quarter's 2.34 billion rupees worth operating profit, which included a government incentive to promote payments via the Unified Payments Interface (UPI) digital payments system...
Paytm, which also rents out devices that confirm payments to merchants, said revenue at its core payments business rose 31%, while financial services revenue, which includes that of the buy now pay later loans, rose 93%...
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