According to the latest quarterly report of One 97 Communications Ltd, the parent company of the Paytm brand, the consolidated net loss increased to ₹550 crore this quarter. It also projects a much higher figure than the ₹167. 5 crore as compared to Rs. 5 crore loss recorded in the corresponding period a year ago.
However, the annual sales growth was nearly 25%, with net sales of ₹9,978 crore for the year ended March 31, 2024, up from ₹7,990. 3 crore in the previous financial year of 2013-2014, when the company recorded a turnover of only Rs.
The firm’s revenue from operations during the reported quarter fell by 2 percent. 8% to ₹2,267. 100 lakh, which increased to ₹2,464. This amounts to Rs 6 crore, down from Rs 5 crore in the corresponding period of the previous financial year.
However, the consolidated annual loss declined to ₹1,422 crore from ₹2,244 crore for the year ended March 2016. 4 crore, down from ₹1,776. It had conducted 19,658 camps across the country and conducted 4.5 crore transactions in the previous financial year.
This comes in the backdrop of the RBI’s recent circular, which restricted Paytm Payments Bank Limited (PPBL) from accepting and opening new deposit accounts and performing credit transactions and top-ups in any customer accounts, wallets, and FASTags in the interest of customers. For this particular RBI restriction, Paytm had predicted a loss of ₹300-500 crore.
While analyzing Paytm’s financial results to understand the future of fintech, one can identify the industry’s difficulties and possibilities. Its future ability to manage these changes, alongside its sustained growth pattern, will be keenly followed, especially by investors and analysts.
