India's Paytm posts 32% revenue growth in Q2 amid strong loan growth; losses nearly halve

India's Paytm posts 32% revenue growth in Q2 amid strong loan growth; losses nearly halve

FILE PHOTO: Paytm app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration

Paytm, one of the first Indian startups to go public, announced on Friday that its revenue for the second financial quarter ended Sept. 30, 2023 rose 32% year-on-year on the back of a steady growth in loans at its financial services business.