Paytm owner One97 Communications' FY18 loss widens 69% to Rs 14.9 bn

One97 Communications' revenues from operations grew manifold to Rs 29.87 bn in FY18 as against Rs 6.25 bn in FY17

Paytm's parent company One97 Communications has reported a higher net loss of Rs 14.904 billion for the year ended on March 31, 2018, compared to Rs 8.796 billion in the previous fiscal, according to regulatory filings.        

One97 Communications' revenues from operations, however, grew manifold to Rs 29.8741 billion in FY2017-18 as against Rs 6.2476 billion in FY2016-17, according to the company's filings to the Corporate Affairs Ministry provided by business intelligent platform Tofler.    

Its employee benefits expenses during the fiscal under review were at Rs 5.4 billion.  
 

The filing stated that the company has a number of subsidiaries including Paytm Entertainment, Paytm Money, Mobiquest Mobile Technologies, Little Internet, Xceed IT Solution, Nearbuy India and Acumen Game Entertainment among others. 

 

A separate filing of Paytm E-commerce -- which operates as Paytm Mall -- showed that Paytm's e-commerce venture had registered a net loss of Rs 17.8755 billion in FY2017-18 as against a loss of Rs 136.3 million in the previous financial year.  
 

The entity, which competes against the likes of Flipkart, Amazon, Snapdeal and Shopclues, saw its revenue from operations rising manifold to Rs 7.4415 billion in FY2017-18 from Rs 71.6 million in the previous year.