Paytm’s share price declines as net loss widens in Q2 on higher expense

Shares in One 97 Communications Ltd, the parent company of Paytm NSE 1.11 %, fell as much as 4.6% Monday after the fintech company’s net loss for its second quarter widened due to a rise in expenses.

At 10:15 am, Paytm shares were trading 0.1% higher at Rs 1,782.95.

In its first earnings report since going public earlier this month, the company said expenses jumped 37.1% over the year ago to Rs 1,599 crore and consolidated net loss increased to Rs 474 crore from Rs 437 crore a year ago. Its revenue from operations, however, surged 63.6% to Rs 1,086 crore for the quarter ended September.