Asian Tech Press (Apr. 6) -- India's digital payments giant Paytm aims to break even in the next 6 quarters, the company said Wednesday in a letter to its shareholders.

The fintech startup, backed by investors including Warren Buffett's Berkshire Hathaway Inc., SoftBank Group Corp. and Jack Ma's Ant Group Co., expects it "should be operating EBITDA breakeven in next 6
quarters," said Vijay Shekhar Sharma, founder and CEO of Paytm.

The forecast comes as Paytm reported its operating metrics for the quarter ending March 2022, especially a robust growth in merchant payments volume.

Paytm said gross merchandise volume (GMV) processed through its platform totaled approximately INR 2.59 lakh crore ($34.5 billion) in the fourth quarter of fiscal 2022, up 104% year-over-year.