Indian digital payments pioneer Paytm expects to break even on an operating basis over the next year-and-a-half.
Paytm is currently grappling with a regulatory audit of its data-management systems.
The startup backed by SoftBank Group Corp. and Jack Ma’s Ant Group Co. predicts it will become profitable in six quarters on an operating earnings before interest, tax, depreciation and amortization basis.
That forecast followed a doubling of its gross merchandise value to 2.59 trillion rupees ($34.3 billion) in the three months ended March.
Paytm ,listed as One 97 Communications Ltd., competes with the likes of Google Pay and Walmart Inc.’s PhonePe.
Paytm climbed more than 3% after revealing its projection. It averaged almost 71 million transacting users in the quarter.