PayU pares losses by 28% at Rs 120 cr in FY19 on back of rising revenues

Digital payments company PayU narrowed its losses by around 28 per cent at Rs 119.8 crore in the financial year ending March,2019. The firm reported a loss of Rs 148 core in FY18. Decline in losses was attributed to increase in revenues apart from slower rise in expenses.

The Naspers-backed payment firm posted 50 per cent increase in its revenues at Rs 907.3 crore in FY19 as compared to Rs 605.5 crore reported in FY18, data sourced from business intelligence platform Tofler showed.

In FY19, total expenses of the company increased 36 per cent at Rs 1,028 crore against Rs