• About
  • Contact
Friday, July 1, 2022
  • Login
Next Big Brand
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail
No Result
View All Result
Next Big Brand

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
Reading Time: 2 mins read
A A
0
Paytm

Image Credit - Paytm Blog

  • 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

20220630 185323
Cryptocurrency

Binance Taps Most Popular Tiktok Star Khaby Lame To Drive Web3 Adoption

June 30, 2022
Metawhale Team
Cryptocurrency

World’s First NFT Museum Launched By Metawhale World

June 30, 2022
WhiteHat Jr Ads- Next Big Brand
News

Byju’s-owned WhiteHat Jr Lays Off 300 Employees

June 29, 2022
Reliance CEO Mukesh Ambani
Industries

Mukesh Ambani Resigns as Director of Reliance Jio, Son Aakash Ambani Named Chairman

June 28, 2022
png 20220628 164551 0000
Cryptocurrency

Cryptoys Raises $23 Million to Mix NFTs, Gaming, and Virtual Toys

June 28, 2022
20220627 152251 0000
News

Proptech Startup PropShare Raises $47 Million Led by WestBridge Capital

June 27, 2022
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.

BROWSE BY TOPICS

Acquiring amazon Apple Brands brand story Byjus byjus news byjus the learning app Cryptocurrency Edtech Startups Elon Musk facebook fintech news Flipkart funding google Indian Crypto Startups Indian OTT Platforms Indian Unicorn Indian Unicorns Indian Unicorns of 2021 Mukesh Ambani Netflix NFT NFT Collection NFT India Non Fungible Tokens Ola OYO Paytm Reliance Retail Startup Acquisition Startup IPO startup news india startups in india Swiggy Tiktok Twitter Unicorns of 2022 Unicorns of India Unicorn Startups Upgrad WazirX YouTube Zomato
check more news on that pages youtube converter, filme online 2022, filme porno mature, porno amatoriale, nxnxx.org, https://xvideosxnxx.org, https://xoxporn.net

Instagram

Follow Me!

Recent News

  • Binance Taps Most Popular Tiktok Star Khaby Lame To Drive Web3 Adoption
  • World’s First NFT Museum Launched By Metawhale World
  • Byju’s-owned WhiteHat Jr Lays Off 300 Employees

Latest News

20220630 185323

Binance Taps Most Popular Tiktok Star Khaby Lame To Drive Web3 Adoption

June 30, 2022
Metawhale Team

World’s First NFT Museum Launched By Metawhale World

June 30, 2022
  • 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
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail

© 2019 NBB. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

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.