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HomeNewsNational NewsPaytm founder’s company One97 Communications faces heavy loss
Monday, 29 October 2018 10:41

Paytm founder’s company One97 Communications faces heavy loss

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While Paytm founder Vijay Shekhar Sharma is currently in news as he had got a ransom call from her top secretary who has been arrested, his company One97 Communications has registered a net loss to Rs 1490.4crore for this year ended on March 31. One97 Communications is the parent company of Paytm.

However, its revenues from operations grew manifold to Rs 2,987.41 crore in FY2017-18 as against Rs 624.76 crore in FY2016-17.

As per company sources, its employee benefits expenses during the fiscal under review were at Rs 540 crore.

At present, the company has a number of subsidiaries including Paytm Entertainment, Paytm Money, Mobiquest Mobile Technologies, Little Internet, Xceed IT Solution, Nearbuy India and Acumen Game Entertainment among others.

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