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Paytm posts first-ever profit helped by ticketing biz sale to Zomato; revenue down 34% YoY

Economic Times · 6m

Paytm's parent company, One97 Communications, reported a 34% decline in operational revenue in Q2 but was able to report a net profit of Rs 930 crore due to the sale of its ticketing platform to Zomato. The sale resulted in a one-time gain of Rs 1,345 crore. Expenses also decreased by 23%, and the company's cash balance reached Rs 9,990 crore. Paytm's merchant subscriber base reached 11.2 million, and its payment services revenue was Rs 981 crore. Revenue from financial services rose to Rs 376 crore.