Paytm Mall Narrows Down Losses By 60%, But Revenue Drops 27%

Paytm Mall, which is the ecommerce unit of Noida-based digital payments company Paytm, has narrowed down its losses by 60% to INR 479 Cr in the financial year ending in March 2020. The company had reported INR 1,171 Cr in loss in FY19, representing a 35% reduction from INR 1,806 Cr in FY18.

However, the reduction in losses comes with a 27% decrease in revenue for the ecommerce company. The company recorded INR 703 Cr in FY2020 as compared to INR 968 Cr in FY2019. In FY2018, the company had reported a revenue of INR 775 Cr.