Paytm Q2 Results: Profit falls 98% to Rs 21 crore, revenue rises 24%

Fintech player Paytm Ltd on Tuesday reported 98% decline in its consolidated net profit at just Rs 21 crore in the second quarter, compared with Rs 928 crore in the last year period. Before one-time charge for full impairment of Rs 190 crore loan to its JV First Games Technology, PAT stood to Rs 211 crore.

Revenue from operations, meanwhile, increased 24% year-on-year (YoY) to Rs 2,061 crore, led by increase in subscription merchants, higher payments GMV, and growth in distribution of financial services.

Contribution profit for the quarter stood at Rs…