Paytm really needs to turn a profit by next September

The company seems to be betting on selling shares in Tokyo-based PayPay to help meet its self-imposed deadline, but its track record isn’t heartening.

Last week, when Paytm released its earnings for the 2021-22 fiscal year, Pine Labs chief executive officer Amrish Rau couldn’t hold back a jibe. “What a liar,” he commented under Paytm’s official tweet announcing the results. 

In its maiden annual financial report as a publicly listed company, Paytm’s losses widened to Rs 2,396 crore against Rs 1,701 crore in the previous fiscal, weighed down largely by marketing, promotion and employee stock option expenses, even as its revenue from operations grew 77% to Rs 4,974 crore.

What triggered Rau’s tweet, however, seems to be a specific comment by Paytm while declaring …

Author

Ashwin Manikandan

Ashwin covered fintech and banking at The Morning Context. Previously, he was at The Economic Times, where he worked across the finance, tech and startup verticals, breaking stories related to India’s banking system, startups in the new economy, digital payments, insurance and cryptocurrencies.

Writer

ashwin@mailtmc.com

Delhi