Paytm swings to profit on gains from sale of ticketing business

Paytm swings to profit on gains from sale of ticketing business

FILE PHOTO: A man uses his phone to scan a QR code of the digital payment app Paytm after purchasing a cold beverage at a shop in Kolkata, India on July 9, 2024. REUTERS/Sahiba Chawdhary/File Photo

One 97 Communications Ltd., the parent company of Indian digital payments firm Paytm, reported a profit after tax of Rs 930 crore ($110 million) for the September quarter (Q2 FY2025), buoyed by gains from the sale of its ticketing business to food delivery giant Zomato. In the year-ago quarter, Paytm had posted a Rs 290 crore loss.

Edited by: Pramod Mathew