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
Oct 22 (Reuters) – India’s Paytm (PAYT.NS), reported its first-ever quarterly profit since listing, helped by a one-time gain from the sale of its entertainment ticketing business to Zomato (ZOMT.NS).
The company posted a consolidated net profit of 9.28 billion rupees ($110.38 million) in the latest quarter, compared with the record 8.39-billion-rupee loss in the previous quarter.
Paytm recorded a one-time gain of 13.45 billion rupees related to the ticketing business sale.
Reporting by Dimpal Gulwani in Bengaluru; Editing by Janane Venkatraman
