New Delhi: Fintech firm One97 Communications, which owns the Paytm brand, on Wednesday reported a widening loss of Rs 550 crore, according to the company's regulatory filing.
The company had suffered a loss of Rs 167.5 crore in the same period a year ago.
Paytm's revenue from operations declined 2.8 per cent to Rs 2,267.1 crore during the reported quarter from Rs 2,464.6 crore in the corresponding quarter of FY23.
The company's loss reduced to Rs 1,422 in the year ending March 31, 2024. Ten million. Paytm had reported a loss of Rs 1,776.5 crore in FY23.
Paytm's annual revenue grew by nearly 25 percent to Rs 9,978 crore in FY23 from Rs 7,990.3 crore.
Keeping in mind the interest of customers including merchants, the Reserve Bank of India has barred Paytm Payments Bank Limited (PPBL) from accepting deposits, credit transactions or top-ups to any customer accounts, wallets and Fastag with effect from March 15.
Paytm had estimated a loss of Rs 300-500 crore due to the RBI ban on PPBL.
The company had suffered a loss of Rs 167.5 crore in the same period a year ago.
Paytm's revenue from operations declined 2.8 per cent to Rs 2,267.1 crore during the reported quarter from Rs 2,464.6 crore in the corresponding quarter of FY23.
The company's loss reduced to Rs 1,422 in the year ending March 31, 2024. Ten million. Paytm had reported a loss of Rs 1,776.5 crore in FY23.
Paytm's annual revenue grew by nearly 25 percent to Rs 9,978 crore in FY23 from Rs 7,990.3 crore.
Keeping in mind the interest of customers including merchants, the Reserve Bank of India has barred Paytm Payments Bank Limited (PPBL) from accepting deposits, credit transactions or top-ups to any customer accounts, wallets and Fastag with effect from March 15.
Paytm had estimated a loss of Rs 300-500 crore due to the RBI ban on PPBL.
