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Fintech Pioneer Paytm’s Quarterly Revenue Edges Higher

  • Firm posts 7.6 billion rupee loss in three months ended March
  • Paytm faces intensifying competition, including from Amazon
The Paytm digital payment system in Mumbai.

The Paytm digital payment system in Mumbai.

Photographer: Dhiraj Singh/Bloomberg
Updated on

Paytm reported a 5.8% rise in revenue amid the Indian digital payments pioneer’s struggle with intensifying competition.

Paytm-owner One 97 Communications Ltd. reported a net loss of 7.6 billion rupees ($98 million) for the March quarter, versus a loss of 7.8 billion rupees a quarter earlier. Revenues rose to 15.4 billion rupees from 14.6 billion rupees, it said in a statement.