Listed fintechs cut marketing spends to boost fundamentals

Listed fintech startups undertook major cuts in marketing and promotional expenses in the past few quarters in a bid to achieve profitability in their core business or strengthen business fundamentals in a tough environment, showed stock exchange filings.

While One 97 Communications, which runs Paytm, has been on a cost cutting spree, PB Fintech also reduced marketing spends in the past two quarters.

It comes even as Paytm reported its first business-driven profitable quarter in June. While achieving revenue growth has been a major challenge in a…