Digital payments firm Paytm has reported narrowing of consolidated loss for second consecutive year. The company’s annual report states narrowing loss upto Rs 1,704 crore for 2020-21.
Earlier, in the fiscal year it had posted a Rs 2,943.32 crore loss. Talking to a Paytm spokesperson it was revealed that: "Despite a significant disruption in the business of our merchant partners due to the ongoing pandemic especially in the first half of the year, we have had a minimal impact on revenues, due to strong recovery in the second half of the year." The total revenue of the company declined about 10 percent to Rs 3,186 crore in 2020-21 compared to Rs 3,540.77 crore in the previous year. The report explained, "COVID-19 continues to spread across the globe and India. The company has considered the possible effects that may result from COVID-19, on the carrying amount of the receivables, investments, goodwill, etc.”
While, the authorized share capital of the company stood at Rs 104.1 crore comprising over 10.41 lakh equity shares of Rs 10 each.
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