Softbank-backed Paytm hopes to break even before the end of 2023 – The National
- Date: 06-Apr-2022
- Source: The National
- Sector:Financial Markets
- Country:UAE
Softbank-backed Paytm hopes to break even before the end of 2023 – The National
Paytm, India's largest digital payments service provider, aims to break even on an operating basis by September 2023, as it struggles to appease investors following a disappointing initial public offering in November 2021.
The company, which is backed by Japan's SoftBank Group and China's Ant Capital, said on Wednesday that its monthly transacting users reached over 70 million in the fourth quarter of its fiscal year ended March 31, 2022, and projected strong growth prospects.
Paytm's shares were up 5 per cent to 642 rupees ($8.5) at 11.24am UAE time, following the announcement.
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