Paytm parent One 97 Communications posts $1 billion in revenue for FY23

One97 Communications Ltd, which owns the Paytm brand, said on Friday that its consolidated quarterly losses shrank to less than a fourth from a year earlier, even as it posted strong revenue growth in its digital payments, merchant subscription and loan-distribution businesses.

Losses narrowed to Rs 167.5 crore in the fiscal fourth quarter ended March 31 from Rs 762.5 crore a year earlier, and Rs 392.1 crore in the previous three months.