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

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.

Updated on: May 22, 2024, 10:03:02 IST

By HT News Desk

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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 ₹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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