Paytm's loss widens to Rs 840 crore in April-June quarter – ..

New Delhi, July 19 (HS). One Communications, the parent company of the online payment platform Paytm brand, has announced the results for the first quarter (April-June) of the financial year 2024-25. The company’s loss has increased to Rs 840 crore in the April-June quarter. In the same quarter of the previous financial year, the company had a loss of Rs 358.4 crore.
Paytm informed the stock market on Friday that its loss has increased to Rs 840 crore in the April-June quarter of the current financial year 2024-25. In the same quarter of the previous financial year, the company had suffered a loss of Rs 358.4 crore. The company said that its consolidated income declined by 33.48 percent to Rs 1,639.1 crore, from Rs 2,464.2 crore in the same period of the previous financial year.
The impact of the ban imposed by the Reserve Bank of India (RBI) on Paytm Payment Bank has been seen on its business. After the announcement of the April-June quarter results, Paytm’s shares have seen a rise of about one percent. It is trading at Rs 450. However, in the last one year, the company’s shares have fallen by about 45 percent.