Paytm reduces loss by 65% as loan volumes surge

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In 50 Words: Paytm reduces loss by 65% as loan volumes surge

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In 50 Words: Paytm reduces loss by 65% as loan volumes surge

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One97 Communications, parent of fintech firm Paytm, reported a net loss of US$35 million for the second quarter of its 2024 financial year, down 65% from a year ago. Its loans disbursed were worth more than double from the previous year.

The India-based company recorded US$302.9 million in operating revenue for the quarter, up 32% year on year.

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