PayU India turns Ebitda positive in Jul-Sep

ayment services provider PayU India turned profitable in the September quarter, with adjusted Ebitda turning positive at $3 million from a loss of $6 million a year ago largely due to a growth in its merchant-lending business.

- Salman

The firm's adjusted Ebitda turned positive at $3 mn from loss of $6 mn a year ago.

(MIN)

The Prosus-backed firm's Ebitda margin rose 400 basis points to 1%, Ebitda is earnings before interest, taxes, depreciation and amortization. PayU's revenue in the quarter rose to $214 million, up 21% from a year ago and 17% sequentially.

The finances were reported in Dutch investor Prosus' half-yearly update on Monday.

Prosus’s latest India disclosures attribute much of this to PayU's merchant lending arm, whose assets under management increased from $25 million meant to deepen usage and support growth.