FILE PHOTO: A man stands at the Paytm stall during the Global Fintech Fest in Mumbai, India, August 29, 2024. REUTERS/Francis Mascarenhas/File photo
(Reuters) -Indian fintech firm Paytm swung to a profit for the first time since September 2024, driven by robust growth in its lending business and tight cost controls, and said it expects a further improvement in earnings.
The company posted a net profit of 1.23 billion rupees ($14.24 million) for the quarter ended June 30. It had last posted a profit in the September 2024 quarter due to a one-time gain from the sale of its ticketing business.
