Company’s loss reduced in FY 2021, 14% reduction in revenue, paytm IPO | Company’s loss reduced in FY 2021, 14% reduction in revenue

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Mumbai19 minutes ago

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  • The company has said that its loss has been Rs 1,701 crore during this period.
  • A year ago it was Rs 2,942 crore. That is, it has decreased by 42%

Paytm’s revenue, which is preparing to bring an IPO of Rs 22 thousand crore, has decreased in FY 2021. While its losses have also reduced during this period. Its revenue has decreased by 14%.

information in the annual report

According to the annual report of Paytm, its revenue in FY 2021 has been Rs 2,802 crore. Paytm owner One97 Communications has given this information in its annual report. The company has said that its loss during this period has been Rs 1,701 crore. A year ago it was Rs 2,942 crore. That is, it has decreased by 42%.

The company is preparing to submit the draft

Paytm, which is invested by China’s Alibaba and Japan’s Soft Bank, is in the process of submitting a draft to SEBI. Its board approved its IPO only last week. It is the most valuable startup company in India. Its current valuation is $16 billion. The company is continuously reducing its expenditure on discounts, cash back and promotions to reduce its losses. Because of this its losses are getting reduced.

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reduction in promotional expenses

In the financial year 2021, it has reduced the promotional expenditure by 61% which has been Rs 532 crore. A year ago it was Rs 1,397 crore. Its total expenditure was also Rs 4,783 crore in FY 2021 as compared to Rs 6,138 crore a year ago. These figures show that the company is continuously trying to reduce its losses.

35 million subscribers

Paytm has a total of 35 crore customers. In the annual report, it has said that its ticket, contest and FASTag related expenses have come down. In the financial year 2021, it has spent Rs 172 crore on all these. A year ago it was Rs 248 crore. Its legal fees and professional expenses have been Rs 198 crore.

The company is also in broking and fund segment.

But both broking and mutual funds are segments where a good financial advisor is needed to bring in investors. Investors in India are not such that they start investing directly in this way. Also Paytm is currently planning to buy general insurance companies. General insurance means to insure vehicles, health, houses etc. The company’s non-payment services business has grown by 87% annually. The company has set a revenue target of Rs 7,500 crore in 2022-23. The non payment business has segments like credit, wealth and insurance.

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