Paytm Mall’s loss rises 150 times to Rs1,787 crore in FY18

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.

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The inspiring journey of Paytm Founder Vijay Shekhar Sharma

“To the winners, who won because they didn’t give up.”- Vijay Shekhar Sharma, founder of Paytm.

The man, who always wears a welcoming smile, stands true to every word he wrote during the most difficult times of his life. Vijay Shekhar Sharma owns a company whose current value is a little over $3 billion in the market in 2016, a dream dreamt when he was struggling to make ends meet with Rs 10 in pocket. But he tasted victory the hard way. Nothing came easy for him. The tears he hides behind the chirpy self that he puts up in front of the world could not be hidden for long while recollecting his journey. Interestingly, it was not talking about his failures that brought tears in his eyes; it was his hard earned victory.

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