Helped by a growing number of payment devices and growth in bill payments, the digital payments and financial services company One 97 Communications (Paytm), reported strong growth in revenue of 89% y-o-y from operations in the first quarter of 2022-23. The EBITDA (before ESOP costs) loss of Rs.275 crore was narrowed down by Rs.93 crore on a y-o-y basis.

The management remains confident of reaching operating profitability by September 2023. The