Paytm FY20 Loss Narrows By 40%, Revenue Rises To ₹3,629 Crore
Published on 5th Sept, 2020 | 1 min read
NEW DELHI : Digital financial services firm Paytm on Friday said its revenue for fiscal year ended March 31, increased to ₹3,629 crore supported by increase in number of transactions across various segments and point of sale devices. “We are on path to become profitable by 2022. Paytm is also moving its efforts to become a dominant digital financial services platform with Paytm Postpaid, Paytm Money and Paytm Insurance services contributing an increased turnover in the coming fiscal years,” Deora said. Paytm has expanded its financial services with lending, wealth management and insurance segments, which the company claims have opened up new revenue streams. Paytm expects significant push in recently launched stock trading segment on its online investment and wealth management platform Paytm Money and expects to get traction of both experienced as well as first-time investors. “Paytm has registered over 1.7 crore merchant partners benefiting from its payment and financial services with launch of merchant focused products such as Paytm for business app, Soundbox, Business Khata, Payout services among others that are transforming the way SMEs do business in the country,” Deora said.
