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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.

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.

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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.

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