Mumbai: One97 Communications, which owns fintech major Paytmgave a report on Friday contraction Of Loss Rs 221 crore on consolidated basis for quarter Expires December 2023. Net loss in the year-ago quarter was Rs 392 crore.
Income Turnover from operations grew to Rs 2,850 crore during the quarter from Rs 2,062 crore in the year-ago period – a growth of 38%, helped by growth in subscription revenue and payments business. The Noida-based firm claimed that the number of merchants subscribing to its payment instruments will cross one crore by December 2023.
“Within the payments sector, the company is focused on strengthening its acquisition leadership using a multi-device strategy,” the company said in a statement.