NEW DELHI: Fintech firm One97 Communications, which owns Paytm, on Friday said its loss has widened to Rs 840 crore in the quarter ended June 30, mainly due to continued impact of restrictions on Paytm Payments Bank Ltd.
The company had posted a loss of Rs 358.4 crore in the same period a year ago, according to a regulatory filing by the company.
The consolidated revenue of Paytm declined 33.48% to Rs 1,639.1 crore during the reported quarter, from Rs 2,464.2 crore in the same period a year ago.
Paytm spokesperson attributed the widening of loss and decline in revenue primarily to the disruption in business due to restrictions imposed on associate company Paytm Payments Bank (by RBI).
The RBI barred PPBL from accepting deposits, credit transactions or top-ups in any customer accounts, wallets, and FASTags, keeping in view the interest of customers, including merchants from March 15 onwards.