Paytm's Financial Struggles Intensify with Losses Doubling in Q2 2024

Fintech firm One97 Communications, the owner of Paytm, reported a loss of Rs 840 crore for the quarter ending June 30, 2024. This marks a significant increase from the Rs 358.4 crore loss recorded in the same period last year. Additionally, the company's consolidated revenue dropped by 33.48% to Rs 1,639.1 crore.

Fintech firm One97 Communications, which owns the Paytm brand, reported a staggering loss of Rs 840 crore for the quarter ending June 30, 2024.

This loss is more than double the Rs 358.4 crore reported in the same period last year, as per the company's regulatory filing.

Furthermore, Paytm's consolidated revenue saw a significant drop of 33.48%, falling to Rs 1,639.1 crore from Rs 2,464.2 crore in the corresponding quarter of the previous year.