One97 Communications Q1 loss widens to Rs 840 Cr; revenue down 36%

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One97 Communications Q1 loss widens to Rs 840 Cr; revenue down 36% - YourStory

Quick Summary:

Paytm has kicked off its first quarter ended June 30, 2024, with a reported loss of Rs 840 crore, navigating through the choppy waters of regulatory sanctions on Paytm.

Additionally, per device subscription revenue has bottomed out and is expected to increase on back of new merchant signups and redeployment from inactive merchants," the presentation added.

Paytm's total expenses decreased 11.5% to Rs 2,476 crore, brought down by payment processing expenses which fell by 32.5% YoY to Rs 517 crore, down from Rs 766 crore in Q1 FY24.