India's Paytm reported a narrower sequential third-quarter adjusted loss on Monday as its digital payments business recovered from the winding down of its payments bank unit. The company posted a loss of 2.

Paytm reported its fiscal third quarter earnings wherein it reported a loss of Rs 208.50 crore, down from a loss of Rs 221.70 crore recorded during the same period of previous financial year.

Paytm said it achieved 10 per cent sequential revenue growth, due to increase in GMV, healthy growth in subscription revenues and increase in revenues from distribution of financial services.

The company's revenue fell 36% year-on-year to ₹1,827 crore for the third quarter, as against ₹2,850 crore in the corresponding period a year ago. On a sequential basis, revenue rose 10% due to an increase in GMV (gross merchandise value), growth in subscription revenues, and an increase in revenues from the distribution of financial services.

The payment giant reported that its net loss for the December quarter narrowed to ₹208 crore (around $24.4 million).

India's Paytm reported a narrower sequential loss before exceptional items on Monday as its digital payments business recovered from the winding down of its payments bank unit. The company posted a loss of 2.