Paytm suffered Rs 4.65 crore loss per day in 2020-21

Paytm has reported Rs 3,186 crore revenue and Rs 1,704 crore loss (about Rs 4.65 crore loss per day) for the financial year 2020-21.

New Delhi: Digital payments firm Paytm has reported consolidated Rs 1,704 crore loss for 2020-21 (about Rs 4.65 crore loss per day). However, according to the company’s latest annual report, the loss has narrowed by nearly Rs 1,240 crore from a whopping Rs 2,943.32 crore reported in 2019-20.

In fact, this is the second consecutive fiscal year when the company has reported narrowing of loss.

The total revenue of the company declined about 10 per cent to Rs 3,186 crore in 2020-21 compared to Rs 3,540.77 crore in the previous year.

"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," a Paytm spokesperson told PTI.

The authorized share capital of the company stood at Rs 104.1 crore comprising over 10.41 lakh equity shares of Rs 10 each.

(With PTI Inputs)