Indian fintech Paytm's Q2 results show regulatory woes still haunt, shares drop

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(Corrects typo in headline)By Dimpal Gulwani:India's Paytm barely slowed its revenue decline in the second quarter, while its user base dwindled in its key digital payments business, indicating a slower-than-expected recovery from a central bank-ordered shuttering of its banking unit.

Paytm posted a net profit of 9.28 billion rupees, but that was mostly due to a 13.

Excluding that and taxes, its loss was 4.07 billion rupees, less than the 8.39 billion rupees in the previous quarter but more than the 2.73 billion rupees a year earlier.($1 = 84.

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Category: EconomyBusiness

Markets: SingaporeIndia

Topics: Paytm Business Revenue Cent Billion Payment Previous Rupees Digital Quarter Second

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-22 @ 13:23:02 (6 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 406 words

Reading Time: 3 minutes read

Sentences: 17 lines

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