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India’s Paytm Reports Wider Losses After Rocky IPO

One97 Communications Ltd., the entity that operates the digital payments service Paytm, reported a wider loss last quarter as the company tries to recover from a disastrous initial public offering in November.

The company reported a loss of 7.8 billion rupees ($104 million) for the December quarter, compared with a loss of 4.74 billion rupees a quarter earlier. Revenues rose 34% from the previous quarter to 14.6 billion rupees, the company said in a statement.