• About
  • Contact
Tuesday, April 13, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home Internet

Paytm Triples Its Losses To ₹4,217 Cr In FY’19 With Rise In Expense

Pritish raj by Pritish raj
September 10, 2019
in Internet, News, Tech
2 min read
0
Paytm

Image Credit - Paytm Blog

Share on FacebookShare on Twitter
  • The parent company of payments giant Paytm, One97 Communications Ltd. has tripled its losses in this year which ended on March 31st as it focused more on building its brand and expanding the business.
  • The total revenue of the Noida-based company rose around 8.2 percent to Rs. 3,579.67 crore in Financial Year 19 from Rs. 3,309.61 crore a year ago. Although its expenses doubled to Rs. 7,730.14 crore in the year ended 31 March from Rs. 4,864.53 crore in the previous year.

The parent company of payments giant Paytm, One97 Communications Ltd. has tripled its losses in this year which ended on March 31st as it focused more on building its brand and expanding the business.

When calculated on a consolidated basis, the company’s loss increased to Rs. 4,217 crore in the year ended 31 March from Rs. 1,604.34 crore in the year-ago period, as per the annual report of the organization.

The total revenue of the Noida-based company rose around 8.2 percent to Rs. 3,579.67 crore in Financial Year 19 from Rs. 3,309.61 crore a year ago. Although its expenses doubled to Rs. 7,730.14 crore in the year ended 31 March from Rs. 4,864.53 crore in the previous year.

The company in its annual report that they have incurred huge capital expenditure in creating a brand and establishing its business activity. The company also mentioned that it spent a considerable amount on various capital and operational expenditures which resulted in the losses during the financial year.

In the reporting company also is focused mainly on making its stronghold in various business segments like payments bank, insurance, and insurance broking, travel ticketing, hotel, and mobile wallet services, among others, which it believes “would record much better turnover in coming years”.

Vijay Shekhar Sharma- Next Big Brand
Vijay Shekhar Sharma- Founder of Paytm.
Source- Wikipedia

The company also said that with the help of streamlined organizational design, the consumer confidence and the business is expected to improve in the coming years as the company intends to grow its businesses. It believes that improving consumer sentiment and increased consumer spending through online platforms will enable the growth momentum to pick up.

“The management continues to be cautiously optimistic towards the external economic environment and expects consumer demand to become more consistent and robust in the ensuing fiscal years. Further, various policy decisions taken would act as a growth channel for the company which would contribute to increased revenues and higher margins.”

Founder and CEO of Paytm, Vijay Shekhar Sharma last month said that Paytm’s valuation has jumped 25 percent to $15 billion in the latest investment round that saw several employees cash out their shares worth $150 million.

Tags: paytm AppPaytm lossVijay Shekhar Sharma
Previous Post

Delhi is home to most number of Startups and Unicorns, more than Bengaluru

Next Post

Yes Bank to Sell a Minority Stake to a Tech Firm : CEO

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

Urban Company is All Set to Join Unicorn Club with Latest Funding-raise
News

Urban Company is All Set to Join Unicorn Club with Latest Funding-raise

April 12, 2021
Nykaa Acquires Jewellery Brand Pipa Bella
Industries

Nykaa Acquires Jewellery Brand Pipa Bella

April 12, 2021
Byju’s has Raised $1 Billion from B Capital, Baron, and XN: Reports
Internet

Byju’s has Raised $1 Billion from B Capital, Baron, and XN: Reports

April 11, 2021
Top 5 Made in India Short Video Apps Winning the Game in India
Case Study

Top 5 Made in India Short Video Apps Winning the Game in India

April 10, 2021
Jeff Bezos to Step Down as CEO of Amazon Later This Year
Industries

Here is the List of Top 10 Richest Persons in the World of 2021

April 9, 2021
Industries

Nike is the Undisputed King among Apparel Brands: Brand Finance Study

April 9, 2021
Next Post
yes-bank-paytm

Yes Bank to Sell a Minority Stake to a Tech Firm : CEO

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

Google Tangi App - Next Big Brand

Google’s Tangi App Is Ready For a Face-Off With Tik-Tok App

1 year ago
OTT Platforms Taking India Seriously. Amazon Prime To Release 1 Show Every Month

OTT Platforms Taking India Seriously. Amazon Prime To Release 1 Show Every Month

1 year ago
wework valuation-CEO-next-big-brand

SoftBank takes over 80 Percent of WeWork, names new Executive Chairman

1 year ago
ITC Swiggy Food Delivery- Next Big Brand

ITC Hotels Collab With Swiggy For Online Food Delivery In Selected Cities

11 months ago

FOLLOW US

  • 33.5k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Urban Company is All Set to Join Unicorn Club with Latest Funding-raise
  • Nykaa Acquires Jewellery Brand Pipa Bella
  • Byju’s has Raised $1 Billion from B Capital, Baron, and XN: Reports

Instagram

Follow Me!

Latest News

Urban Company is All Set to Join Unicorn Club with Latest Funding-raise

Urban Company is All Set to Join Unicorn Club with Latest Funding-raise

April 12, 2021
Nykaa Acquires Jewellery Brand Pipa Bella

Nykaa Acquires Jewellery Brand Pipa Bella

April 12, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.