Akshata Sharma
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Earlier this week, Paytm reported a 36% fall in revenue from operations to Rs 1,502 crore in Q1FY25, compared to Rs 2,342 crore in the same quarter the previous year.
Additionally, the net loss widened to Rs 839 crore, a substantial increase from Rs 357 crore in Q1FY24.
Now, founder and CEO Vijay Shekhar Sharma hopes for the company to deliver at least one profitable quarter in the current financial year.
"We're hoping and working on making sure that we deliver at least one profitable quarter in this financial year as soon as we're able to see a lot more clarity coming our way," he said during an earnings call with analysts.
He mentioned that Paytm saw the full impact of the Reserve Bank of India's curbs on Paytm Payments Bank during the first quarter, and its earnings were in line with what it had guided for.
Sharma added that Paytm will return to focusing on payments and cross-selling financial services as its core business, which would also be supported by marketing services aimed at helping merchants expand and sell more.
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