The media report added that as per a confidential report prepared by investment bank Corporate Professionals Capital Pvt. Ltd for Paytm earlier this year, One97 was expected to report its first profit of Rs.207.61 crore in fiscal year 2021.
“One97 Communications may report a profit of around Rs. 8,512.69 crore by fiscal 2026."
Its total revenue rose 8.2% to Rs. 3,579.67 crore in FY19 from Rs. 3,309.61 crore a year ago. Its expenses nearly doubled to Rs. 7,730.14 crore in the year ended 31 March from Rs. 4,864.53 crore in the previous year.
The annual report of Paytm said: “The company has incurred huge capital expenditure in creating a brand and establishing its business activity. We have incurred a considerable amount in various capital & operational expenditures which resulted into losses during the financial year."