Paytm Q4 Results: Net loss widens to ₹550 crore, revenue down 2.9% YoY to ₹2,267.10 cr - Hindustan Times
close_game
close_game

Paytm Q4 Results: Net loss widens to 550 crore, revenue down 2.9% YoY to 2,267.10 cr

May 22, 2024 10:03 AM IST

Paytm Q4 results: The annual revenue of Paytm increased by about 25 per cent to ₹9,978 crore for FY24 from ₹7,990.3 crore in FY23.

Fintech firm One97 Communications, which owns the Paytm brand, reported a widened loss of 550 crore, according to the company's regulatory filing. The company had posted a loss of 167.5 crore in the same period a year ago.

Paytm Q4 results: The annual revenue of Paytm increased by about 25 per cent to <span class='webrupee'>₹</span>9,978 crore for FY24.(Bloomberg)
Paytm Q4 results: The annual revenue of Paytm increased by about 25 per cent to 9,978 crore for FY24.(Bloomberg)

The revenue from operations of Paytm declined 2.8 per cent to 2,267.1 during the reported quarter from 2,464.6 crore in the corresponding quarter of the financial year 2023.

Now catch your favourite game on Crickit. Anytime Anywhere. Find out how

For the year ended March 31, 2024, the company's loss narrowed to 1,422.4 crore. Paytm had recorded a loss of 1,776.5 crore in FY23.

The annual revenue of Paytm increased by about 25 per cent to 9,978 crore for FY24 from 7,990.3 crore in FY23.

Read more: PM Modi's praise for Zomato CEO's ‘janta hai tera baap kaun hai’ speech: ‘Surname doesn’t matter’

The Reserve Bank of India barred Paytm Payments Bank Limited (PPBL) from accepting deposits, credit transactions or top-ups in any customer accounts, wallets, and FASTags, keeping in view the interest of customers, including merchants from March 15 onwards.

Paytm had estimated a 300-500 crore loss due to the RBI's restriction on PPBL.

Elevate your career with VIT’s MBA programme that has been designed by its acclaimed faculty & stands out as a beacon for working professionals. Explore now!

See more

Get latest updates on Petrol Price along with Gold Rate , Today Weather and Budget 2024 at Hindustan Times.

SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Saturday, June 22, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On