One97 Communications, the parent company of popular digital payments platform Paytm, recently released its financial results for the fourth quarter (Q4) of the fiscal year 2024 (FY24), ending on March 31, 2024. The report revealed a widening net loss for the quarter, which stood at ₹550 crore, compared to a loss of ₹167.5 crore in the same quarter of the previous fiscal year. This represents a notable increase in the company’s losses.
The report also indicated a decline in Paytm’s revenue from operations for Q4 2024. The company reported a revenue of ₹2,267.1 crore, reflecting a 2.8% decrease from the ₹2,464.6 crore earned in Q4 2023. However, on an annual basis, Paytm’s revenue witnessed a significant increase of 25%. The company’s annual revenue for FY24 reached ₹9,978 crore, a substantial rise from the ₹7,990.3 crore reported in FY23.
Despite the widening loss in Q4 2024, Paytm’s overall financial performance for FY24 showcased growth. The company’s annual revenue increased by a significant margin, highlighting its continued expansion and adoption in the digital payments landscape. However, the decline in revenue for Q4 2024 compared to the previous quarter may warrant further examination and analysis by investors and analysts to assess its potential impact on the company’s future performance.
