Paytm April-June quarter loss widens to Rs 840 crore

PTI

Updated At : 12:53 PM Jul 20, 2024 IST

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New Delhi, July 19

Fintech firm One97 Communications, which owns Paytm brand, on Friday said its loss has widened to Rs 840 crore in the quarter ended June 30, primarily due to continued impact of restrictions on Paytm Payments Bank Ltd.

The company had posted a loss of Rs 358.4 crore in the same period a year ago, according to a regulatory filing by the company. The consolidated revenue of Paytm declined 33.48 per cent to Rs 1,639.1 crore during the reported quarter, from Rs 2,464.2 crore in the same period a year ago.

Paytm spokesperson attributed the widening of loss and decline in revenue primarily to disruption in business due to restrictions imposed on PPBL by the RBI.

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