Paytm E-commerce reports net loss of Rs 1,171 crore, revenues jump by 25%

Paytm E-commerce Private Limited (Paytm Mall) has narrowed the losses in FY19 even as the company expanded the revenue by 25 per cent to Rs 968 crore.

In the period under review, the ecommerce firm owned by Paytm Group reported a net loss of Rs 1,171 crore, which is 34 per cent lower than the last financial year, by bringing in tighter control into its expenses.

According to the company’s filing with RoC accessed by business intelligence platform Tofler, Paytm Mall’s total expenses during the period stood at Rs 2139.6 crore, a decrease of 17 per cent over FY18. This, despite of the fact that employee benefits expenses for the period went up close to 12 per cent at Rs 177.16 crore.