Aug 13 (Reuters) - Uruguayan fintech dLocal on

Thursday reported a 28% year-on-year rise in its second-quarter

net profits to $54.8 million, falling short of analysts'

estimates of $56.1 million.

Net profit climbed 31% from the previous quarter, which the

company said was due to higher operational profit and lower tax

expenses.

Revenues for the payments provider, which operates across

more than 40 emerging markets, jumped 56% to $399.7 million,

above the $368.8 million forecast by analysts.

Its operating profit, a measure it began using this year,

increased 15% from $55.8 million last year to $64.2 million,

with gross profit up 29% to a record $127.2 million from $98.9

million, it said.

Total payment volume, which tracks the value of transactions

processed on its platform, reached $17.7 billion in the quarter,

up 92% from a year earlier.

"TPV growth has remained above 50% year-over-year for seven

consecutive quarters, with the last three quarters at or above

70%," said Pedro Arnt, dLocal's Chief Executive.

dLocal focuses on emerging markets across Latin America,

Africa and Asia, where it facilitates transactions for merchants

including Amazon ( AMZN ), Uber ( UBER ) and Spotify ( SPOT ).

It makes the bulk of its income from Latin America, notably

Brazil, Mexico and Argentina.