BENGALURU, Oct 20 (Reuters) - Indian digital payments firm Paytm (PAYT.NS) posted an operating profit for the fourth straight quarter on Friday, helped by steady loan growth at its financial services business. Paytm, one of the country's first startups to go public, said revenue increased 32% to 25.19 billion rupees ($300.96 million) in the second quarter, from 19.14 billion rupees a year earlier. However, the jump in revenue was still lower than the 76.2% rise of last year, when it benefited from the festive season.
The festive season in India starts in October around Diwali, when it is traditional to buy new apparel and other items for gifting. An increasing number of Indians are preferring to pay for those through online digital processors like Paytm. "In this financial year, online sales for the festive season will be captured in the third quarter, whereas in the previous financial year it was largely in the second quarter," the company said in a statement.
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