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Digital payments major Paytm reported a net profit of Rs 21 crore in the September quarter, down 97% from Rs 930 crore in the same period last year. The sharp decline was due to a Rs 190-crore impairment loss on its investment in Paytm First Games, a joint venture with One97 Communications, following the government’s ban on real-money gaming applications.
In the year-ago quarter, Paytm had reported a large profit on account of the sale of its ticketing business to Zomato, which resulted in a one-time gain.
The Noida-headquartered company’s…
