After the IPO, the paytm report was released by the company and it shows sharply higher losses.
The company had posted a net profit of Rs 1,086.40 crore in the year-ago period. Revenue growth was 64 per cent.
New Delhi: paytm parent company One97 Communications has lost ground. The company had posted a net loss of Rs 481.70 crore for the quarter ended september 2021.
The company had posted a net loss of Rs 376.60 crore for the quarter ended June. The company had posted a net loss of Rs 435.50 crore for the september 2020 quarter.
The company had posted a net profit of Rs 1,086.40 crore in the year-ago period. Revenue growth was 64 per cent. The company had posted a net profit of Rs 663.90 crore in the september quarter of last fiscal.
This is due to the increase in revenue in the non-UPI payment segment. The company is releasing its figures for the first time since it was listed on the stock exchange last month.
Revenue from paytm payments rose 69 per cent to Rs 842.60 crore. Revenue from cloud services increased by 47% to Rs 243.80 crore over the previous year.
Revenue from financial services and other services rose 250 per cent to Rs 88.70 crore.
