New Delhi. The country’s largest e-wallet company Paytm said that its consolidated net loss declined to Rs 1,704 crore in the financial year 2020-21. This information has been given in the annual report of the company. The company had a loss of Rs 2,943.32 crore in the financial year 2019-20.
A Paytm spokesperson said, “Even after significant disruption to the business of our business partners due to the pandemic, particularly in the first half of the last financial year, the impact on our revenues was mild due to a strong recovery in the second half. ”
revenue also decreased This is the second consecutive financial year when the company has shown reduction in losses. The company’s total revenue declined by almost 10 per cent to Rs 3,186 crore in the year 2020-21 as compared to Rs 3,540.77 crore in the previous year.
The report said, “The Kovid-19 epidemic has spread everywhere in India and the world. This has had an impact on economic activity at all levels, both locally and globally. The Government of India has taken several measures to contain the spread of the virus and limit the economic impact on corporations and individuals.
Opportunity to earn from Paytm, the company will bring India’s biggest IPO ever
It is worth noting that Paytm is planning to fill its bag with Initial Public Offering (IPO). Through IPO, the company is also going to give investors a chance to earn big money. The company is planning to raise $ 3 billion i.e. about 22 thousand crore rupees from the primary market. For this, the company will launch its IPO around Diwali this year. Through this IPO, Paytm has set a target of making its valuation between $ 25 to 30 billion i.e. Rs 1.80 lakh crore to Rs 2.20 lakh crore
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