One 97 Communications Results: The loss of fintech company One97 Communications (Paytm Results) has increased in the fourth quarter of the financial year
New Delhi: Paytm is facing a serious crisis, these days. Recently, the Reserve Bank of India (RBI) temporarily halted Paytm Payments Bank's digital banking services due to issues related to regulatory compliance and customer data security. This means Paytm users can't make transactions from their accounts for now.
Paytm s revenue from operations for the December quarter increased 38% to Rs 2,850.5 crore. Paytm said the increase in revenue was on the back of accelerated growth in gross merchandise value, payments device additions and an expansion in the financial services business.
Revenue from operations for the Noida-based financial services company grew almost 32% from a year earlier and 7.5% from the previous quarter to Rs 2,518.6 crore.