Indian fintech firm Paytm posts fourth-quarter profit on growth in core businesses

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BENGALURU, May 6 : Indian fintech firm Paytm reported a profit for the fourth quarter on Wednesday, helped by growth in its core financial services distribution business and payments segment.

The digital payments firm posted a consolidated net profit of 1.84 billion rupees ($19.45 million) for the quarter ended March 31, compared with a loss of 5.4 billion rupees a year earlier.

In the year-ago quarter, its results were affected by a one-time expense on charges related to CEO Vijay Shekhar Sharma giving up his employee stock options.

($1 = 94.6100 Indian rupees)

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