Fintech says full financial impact of disruptions to business seen. A rebound in merchant subscriptions and GMVs closer to January levels makes it upbeat of a recovery in growth and profitability
One97 Communications Limited, which owns payments and financial services distribution company Paytm, is seeing the full financial impact of the disruptions to its business operations post the regulatory action earlier in 2024.
The company continued to see a widening of consolidated loss for the June-ended quarter to Rs 792 crore from Rs 549.6 crore for the sequential January to March 2024 quarter. Revenues slumped further to Rs 1,502 crore from Rs 2,267 crore for the same period.