Paytm Q4 loss widens to Rs 550 cr, FY24 loss narrows to Rs 1,422.4 cr

NEW DELHI: Impacted by the disruption caused by Paytm Payments Bank Ltd (PPBL) on account of RBI restriction, One97 Communications, the parent firm of fintech major Paytm, reported a net loss of Rs 550 crore for the quarter ending March of the financial year 2023-24 (Q4FY24) compared to Rs 167.5 crore loss reported in the year-ago quarter. The Vijay Shekhar Sharma-led company’s revenue from operations registered a marginal decline of 2.9% YoY to Rs 2,267.10 crore, compared to Rs 2,334 crore in the same period last year.