New Delhi, July 22 -- Paytm (One 97 Communications Limited), India's full stack merchant payments leader serving MSMEs and enterprises, on Tuesday said that it has turned profitable and clocked Rs 123 Crore in Profit After Tax (PAT).

The Noida-based merchant payments leader saw its operating revenue increase 28 per cent year-on-year to Rs 1,918 Crore, driven by the increase in high-quality subscription merchants, growth in Gross Merchandise Value (GMV), and strong momentum in the distribution of financial services. EBITDA for the firm stood at Rs 72 Crore, according to an official statement.

Contribution profit for the quarter grew 52 per cent YoY to Rs 1,151 Crore, with the contribution margin improving to 60 per cent, reflecting impro...