Paytm Posts Fourth Straight Quarterly Profit Despite Setbacks

Paytm reported its fourth consecutive quarterly profit, driven by surging sales and aggressive cost cuts, as the Indian fintech steadies itself after a period of regulatory turmoil.

Consolidated net income was 1.84 billion rupees ($19.4 million) in the three months through March, compared with analysts’ average estimate of 1.58 billion rupees. Revenue rose 18% to 22.6 billion rupees, the company said in a disclosure Wednesday.