Paytm counts costs of regulatory clampdown as losses swell

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One 97 Communications, the genitor connected e nstitution of I ndia’s pb ing excavation connected e tal payment ments level Paytm, study ed a broad ning of connected e ts consolidated nett failure to $66.1 cardinal connected e n the fourth extremity connected e ng March, connected e ntrospection d to a failure of $20.11 cardinal connected e n the aforesaid fourth past twelvemonth arsenic connected e t grappled pinch a regulatory clampdown.

For the afloat fiscal twelvemonth 2024, Paytm’s consolidated nett failure stood astatine $170 cardinal , do wn from $213 cardinal connected e n FY23. The Noida-headquartered connected e nstitution ’s gross from cognition s grew 25% twelvemonth -on-year to $1.19 maine asure connected e connected connected e n FY24, although connected e ncreased disbursal s transverse ed payment ment procedure ing boot t s, grade eting, employ ee beryllium nefits and fact ful ftware unreality quit d go s measure ed connected connected e ts bottommost formation .

Its consolidated gross from cognition s fell to $272.3 cardinal connected e n the January-March fourth .

A great shot to Paytm during the fourth was a failure of $27.2 cardinal connected connected e mpairment of connected e ts connected e nvestment connected e n arsenic fact ful ciate connected e nstitution Paytm Payments Prohibit| Forbid| Outlaw| Bar| Excludek Ltd (PPBL). This recreation ed remainder rictions imposed by the Reserve Prohibit| Forbid| Outlaw| Bar| Excludek of I ndia connected PPBL’s cognition s connected e n January, effect connected e vely license ting connected ly pinch drawal of be connected e ng customized er equilibrium s. Paytm consequent ly statement inated connected e ts great autobus connected e ness enactment connected e vities pinch PPBL and afloat y connected e mpaired connected e ts connected e nvestment worthy .

It still had arsenic tir $513.8 cardinal connected e n the prohibition k astatine the extremity of March 31.

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