Paytm’s losses ballooned by 78% to Rs 1,604 Cr in FY18

Paytm
Image credit: Paytm

While the whole Indian startup ecosystem is talking about Warren Buffet-led Berkshire Hathaway’s investment in Paytm, the Vijay Shekhar Sharma steered payments major’s FY18 filings with MCA revealed that it had incurred a loss of Rs 1,604 crore in the fiscal.

This is a significant loss for the company in last fiscal as it had managed to overcome from the loss of  Rs 1,548 in FY16 to Rs  Rs 899.6 crore in FY17.

During the FY17, Paytm had shrunk its losses by over 40 per cent, however, it grew by over 78 per cent in the last fiscal.

Despite big investments and expansion of business with a suite of fintech services,  the financial graph for FY18 for Paytm looks like a repetition of FY16.

While Paytm’s overall expenses increased to Rs 2088.1 crore in FY17 from Rs 1,775 crore in FY16, it had reported a revenue of Rs 828.6 crore in FY17 as compared to Rs 597.8 crore in the preceding fiscal.

According to an OfficeChai report, Paytm recorded Rs 640 crore as revenues for FY18.

Separately, a Bloomberg report via RoC filing revealed that the investors in One97 Communications that own Paytm include–Alibaba (40 per cent), VSS (16 per cent), SAIF Partners(20 per cent), SoftBank (20 per cent), and others (4 per cent).

Berkshire had recently picked up 3-4 per cent stake for about Rs 2,500 crore in the Noida-based company. Following the investment, Paytm valuation is expected to reach around $10-12 billion, which will make it second decacorn from India after Walmart-owned Flipkart.

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