New Delhi: One97 communications which operate Paytm has said that the company's net loss widened by 8.4 percent to Rs 474 crore, from 437 crore a year ago.
The company on Saturday released its financial results of its second quarter (ending September 30).
The company in an exchange filing on Saturday asserted that its total income increased by 49.6 percent to Rs 1,086.4 crore during the second quarter, from Rs 663.9 crore in the same quarter of 2020-21.
On Friday, the company's stock closed at Rs 1,781.15, down 0.86 per cent on the Bombay Stock Exchange (BSE).
According to market experts the situation is not clear about when Paytm will turn profitable. Also, there is uncertainty surrounding the company's senior team and at the moment domestic institutions are not expected to make big bets in it.
Though the Initial Public Offering of Paytm was the country's biggest IPO, but this has turned out to be a huge flop. Till now this record was in the name of Coal India, which had risen more than Rs 15,000 crore through IPO in 2010.
One 97 Communications, the promoter of the country's largest digital payments company Paytm, was expected to raise Rs 18,300 crore from this IPO.