Paytm Group has suffered a great loss as the combined losses of One 97 and Paytm Mall went up by 270% to Rs 3,393 crore from Rs 917 crore.
As per the as per documents sourced from data company Tofler, due to increased advertising/marketing and payment gateway expenses over fourfold increase in consolidated revenue in FY18 to Rs 3,314.8 crore as losses widenedto Rs 1,606.05 crore from Rs 903.09 crore.
One 97 and Paytm Mall suffered combined loss of 270% to Rs 3,393 crore from Rs 917 crore and as far as the combined revenue is concerned it went up by 417% to Rs 4,089 crore. The group's e-commerce business Paytm Mall, reported a loss of Rs 1,787 for a total revenue of Rs 774 crore during the period under review.
Company collected $1.4 billion from SoftBank which also has a large stake in Alibaba during this financial year 2017-18.
NOIDA SEZ based Paytm is an Indian e-commerce payment system and digital wallet company. It was founded by Vijay Shekhar Sharma in year 2010. As of March 2018, the Group is comprises of more than 20 subsidiaries, including Paytm Entertainment Ltd, Paytm Money Ltd, Paytm Financial Services Ltd, among others. The paytm got