Asia
Paytm Posts Third Straight Profit as Business Bounces Back
A QR code for the Paytm digital payment system at a roadside flower stall in Mumbai.
Photographer: Dhiraj Singh/BloombergPaytm reported a third straight profitable quarter, helped by rising sales and cost cuts that have helped the Indian fintech pioneer rebound from regulatory troubles.
Consolidated net income was 2.25 billion rupees ($24.5 million) in the quarter through December, Paytm said Thursday in a disclosure to stock exchanges. Analysts expected 1.97 billion rupees on average. Sales climbed 20% to 22 billion rupees, in line with estimates.