Paytm posts biggest loss since listing on banking unit wind down

India’s Paytm reported a wider first-quarter loss on Friday, its biggest since it went public in November 2021, hurt by weakness in its payments business after the central bank’s directive to wind down its banking unit.

The digital payments firm’s consolidated net loss widened to 8.39 billion rupees ($100.3 million) for the quarter ended June 30, compared with a loss of 3.57 billion rupees a year earlier.