Paytm losses up 314% to Rs1,534 crore in FY16

Published by Metro India News Online on August 23, 2016 22:38:14 PM

Digital payments and m-commerce platform Paytm posted a net loss of Rs1,534 crore in the financial year ending March 2016, up by 314% y-o-y, according to a filing with the registrar of companies.

The Alibaba-backed startup had projected a revenue of Rs869 crore for the year. Founded in 2010, Paytm was valued at $2.3 billion as of June 30, 2016.