New Delhi, May 7 -- Shares of fintech player One97 Communications, parent of Paytm, rose 6% in early trading on Thursday, 7 May, after the company posted a profit for the fourth quarter in a row, signalling a sustained turnaround.

Paytm share price surged as much as 6.24% to hit the day's high of Rs.1,180 on the National Stock Exchange (NSE). The stock rose for the second day and remains in the green for the second month in a row.

The digital payments firm posted consolidated net profit of Rs.184 crore for the quarter ended March 31, compared with a loss of Rs.540 crore 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 opt...