Paytm said its revenue for fiscal year ended March 31, increased
to Rs 3,629 crore supported by increase in number of transactions across
various segments and point of sale devices.
Digital
financial services firm Paytm on Friday said its revenue for fiscal year
ended March 31, increased to Rs 3,629 crore supported by increase in number of
transactions across various segments and point of sale devices.
The home-grown
financial technology firm said its losses have narrowed by 40 per cent on a
year-on-year basis.
"We are on
the path to empowering millions of Indians with digital financial services that
would play a key role in building Atmanirbhar Bharat. We are also investing
heavily in building digital services for our merchant partners.
"Our efforts
have started reflecting in the strong adoption of more profitable services by
our consumers and merchants," Paytm
President Madhur Deora said in a statement.
Major growth
registered from financial services and point of sales devices and optimising
expenses resulted in a 40 per cent reduction in losses as compared to last
year, the statement said.
"We are on
path to become profitable by 2022. Paytm is also moving its efforts to become a
dominant digital financial services platform with Paytm Postpaid, Paytm Money
and Paytm Insurance services contributing an increased turnover in the coming
fiscal years," Deora said.
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