Payments firm Paytm aimed to become “free cashflow positive in the near future”, Chief Executive Vijay Shekhar Sharma said in a letter to shareholders on Sunday. 

“This has been possible by disciplined resource allocation and focusing on what has become our core revenue and growth driver –payments and financial services distribution business,” he said. 

Positive free cash flow is when a company has sufficient funds to invest back into the business for growth. 

Paytm had reported a 51.5per cent rise in fourth-quarter revenue on Friday, aided by a surge in loan growth, and posted an operating profit for a second consecutive quarter. 

Paytm’s parent, One 97 Communications said that revenue rose to Rs 2,335 crore ($285.80 million) in the three months ended March 31, from Rs 1,541 crore a year earlier. 

The advent of early-stage artificial general intelligence in 2023 will help bring efficiencies in the business, Mr Sharma said.