Paytm parent’s loss doubles to ₹3,960 crore in fiscal 2019

One97 Communications India Ltd, the parent company of digital payments startup Paytm, on Friday reported more than a twofold rise in loss for the financial year ended March 2019 on account of higher expenses and lower revenue growth, according to documents sourced from business information platform Paper.vc.

In FY19, One97 Communications’ loss stood at ₹3,960 crore, compared with a loss of ₹1,491.23 crore reported a year ago.

The payments startup, however, was able to increase its revenue by a marginal 2% year-on-year (YoY) to ₹3,050 crore in FY19, compared with ₹2,987.41 crore a year ago.