Paytm, the fintech giant, achieved a significant turnaround in the June quarter by recording a net profit of Rs 123 crore on a consolidated basis. This profit marks a major milestone for the company, showcasing its successful cost-saving initiatives and operational enhancements through AI integration. It is noteworthy that this quarter marks the first time Paytm has generated profit from its core business. The company’s financial performance was previously impacted by the RBI’s directive to wind down the banking unit, leading to non-compliance issues last year. In contrast to the losses of Rs 840 crore in the same quarter last year, Paytm has seen a remarkable improvement. Additionally, the revenue from operations surged to Rs 1,917.5 crore, representing a significant growth compared to the previous quarter’s figure of Rs 1,501.6 crore.
