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Paytm Operator Posts Quarterly Loss Amid Rising Expenses

  • Revenues from financial services grew as virus cases waned
  • Value of goods and services sold were up in September quarter
Updated on

One97 Communications Ltd., the entity that operates leading digital payments service Paytm, said losses widened last quarter as the newly-listed company struggled to make money off transactions which slowed during the pandemic.

The company reported a loss of 4.74 billion rupees ($63 million) in the quarter ended September from 4.36 billion rupees in the same period a year ago. It’s the first earnings report since Paytm pulled off India’s biggest IPO just days ago.