Paytm reports 39% dip in losses for FY17

The company’s revenue stands at Rs 828.6 crore, which is a 38.6 percent increase against FY’16 revenue of Rs 597.8 crore

One97 Communications Limited, the parent company of Paytm, has reported losses of Rs 899.6 crore for FY17, as per documents filed by the company with RoC.

There is a 39 percent decrease against the Rs 1496.7 crore loss reported for FY16, according to a report by Paper.vc, a data intelligence company.

The company’s revenue stands at Rs 828.6 crore, which is a 38.6 percent increase against FY’16 revenue of Rs 597.8 crore. Paytm’s total expenses have similarly increased by 17.6 percent from Rs 1775.5 crore for FY16 to Rs 2088.1 crore for FY’17.
In April, SoftBank and Alibaba invested Rs 2,900 crore in Paytm Mall. The company also raised USD 1.4 billion from SoftBank in May 2017.

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