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PhonePe rival Paytm Q3FY24's revenue rises to Rs 2,850Cr; Know the losses

IndianStartupNews · 1y

Paytm's parent company One97 Communications has reported a 38% year-over-year increase in revenue, reaching Rs 2,850.5 crore in Q3 FY24. The significant growth was driven by a rise in the payments business, which saw a 45% increase in revenue. Paytm also witnessed a reduction in losses, narrowing down to Rs 221.7 crore. The company plans to introduce new use cases like Credit on UPI and Autopay, expand high-ticket loans, and venture into embedded insurance and merchant insurance.