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.

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.

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.

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.

Financial services revenue increased sharply to Rs 502 crore, reflecting a jump of 34 per cent QoQ, while payment services revenue grew to Rs 1059 crore, up 8 per cent QoQ.

Paytm posted its earnings for the December quarter on January 20. The payment giant reported that its net loss for the December quarter narrowed to ₹208 crore (around $24.4 million), compared to ₹220 crore in the same period last year.