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Cash Market | Paytm showing signs of a bottom

Moneycontrol Contributor   •

Paytm is looking to break out after consolidation

Paytm losses widened to Rs 763 crore in March quarter. One97 Communications, the parent firm of Paytm, reported a loss of Rs 762.5 crore for the March quarter against Rs 444.4 crore last year. Revenues were up by 89 percent year-on-year to Rs 1,541 crore. The firm has formed a joint venture general insurance company in which it has committed to invest Rs 950 crore over a period of 10 years. The proposal to set up joint venture firm Paytm General Insurance Limited (PGIL) was approved by the board on May 20.

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