Paytm net loss widens even as revenue jumps

India's One 97 Communications Ltd (PAYT.NS), the parent of fintech firm Paytm, reported 45 per cent rise in quarterly net loss on Friday even as revenue rose.

In its second earnings since it went public last year, Paytm posted a consolidated net loss of 7.79 billion rupees ($104.42 million) for the quarter ended December, compared with 5.36 billion rupees in the same period a year earlier.

Revenue in the quarter surged 77 per cent to 15.33 billion rupees.

The company, backed by China's Ant Group and Japan's SoftBank Group Corp (9984.T), raised $2.5 billion late last year in India's biggest initial public offering (IPO), but made a dismal debut with widespread concerns about its high valuation and lack on a clear path to profitability.

Since its listing in November, the stock has more than halved to 953.30 rupees as of Friday's close, after hitting a record low of 875 rupees last week.