Paytm narrows losses to Rs 221 crore, revenue up 38% | One97 Communications | India Business News – Times of India

by The Technical Blogs

MUMBAI: One97 Communications, which owns finetch major Paytm, on Friday reported a narrowing of losses to Rs 221 crore on a consolidated basis for the quarter ended Dec 2023. Net losses stood at Rs 392 crore in the year-ago quarter.
Revenue from operations during the quarter increased to Rs 2,850 crore from Rs 2,062 crore posted in the year-ago period – a rise of 38%, helped by growth in subscription revenues and payment business.The Noida-based firm claimed that the number of merchants subscribing to its payment devices crossed one crore as of Dec 2023.
“Within the payments sector, the company is focused on strengthening its acquiring leadership using a multi-device strategy,” the company said in a statement.

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