New Delhi: Paytm Mall has reported a net loss of ₹1,787 crore on total sales of ₹774.8 crore in the year ended 31 March 2018 (FY18), nearly 150 times of the losses reported in 2016-17, according to data accessed from business intelligence platform Tofler. Paytm E-commerce Pvt. Ltd, the e-commerce arm of One 97 Communications Ltd that runs Paytm and Paytm Payments Bank, had reported ₹13.63 crore loss in FY17.
Paytm Mall’s revenue, however, soared 100 times from ₹7.35 crore in FY17, according to its latest filing with the Registrar of Companies. It had negative reserves of ₹1,062 crore in FY18 from a surplus of 1,284 crore in FY17.
Paytm Mall was carved out from parent One97 Communications in August last year. It received a capital commitment of about ₹2,900 crore (about $450 million) from Japan’s SoftBank Group Corp. and existing investor Alibaba Group Holding Ltd in four tranches, Mint reported in April.