Q1 FY25 Paytm loss rises to Rs 840 crore.
New Delhi: One97 Communications, which controls Paytm, reported a Rs 840 crore loss in the quarter ended June 30 due to restrictions on Paytm Payments Bank Ltd.
The company reported a loss of Rs 358.4 crore a year earlier in a regulatory filing.
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The reporting quarter’s Paytm consolidated revenue fell 33.48% to Rs 1,639.1 crore from Rs 2,464.2 crore a year earlier.
Paytm’s spokesperson attributed the increasing loss and income fall on RBI restrictions on associate company Paytm Payments Bank.
From March 15, the RBI prohibited PPBL from receiving deposits, credit transactions, or top-ups in client accounts, wallets, and FASTags to protect customers, including merchants.
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