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Paytm Reports 39% Drop in FY17 Losses
May 31, 2018
Photo credit: World Economic Forum on Visualhunt.com / CC BY-NC-SA
As per the document filed with the RoC, Paytm’s parent company One97 Communication Ltd. suffered losses to the tune of Rs. 899.6 crores during the financial year 2016-17. That’s 39% lower than the losses incurred in the financial year 2015-16 which stood at around Rs. 1496.7 crores.
The company’s revenue also increased by 38.6% during FY17 at Rs. 828.6 crores. In FY16, it was Rs. 597.8 crores.
Paytm has become one of the fastest growing tech-driven firms in India, especially because of SoftBank which disbursed USD 1.4 billion for it in May 2017.
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