Paytm reports Rs 3,629 cr revenue for FY20; eyes profitability by 2022

The Noida-based firm also claimed it has narrowed losses 40 per cent year-on-year on account of optimisation of expenses which will help it become profitable by 2022

Fintech firm Paytm on Friday said its revenue for the financial year ended March 31 increased 1.4 per cent year on year (YoY) to Rs 3,629 crore on the back of higher digital transactions and point-of-sale devices among small businesses.

The Noida-based company also said it had narrowed losses by 40 per cent YoY on account of optimisation of expenses, which the start-up claimed would help it become profitable by 2022. The firm, however, did not disclose the losses for the financial year in terms of absolute figures. 

In FY19, its losses stood at Rs 4,217.20 crore.

The company has clocked more than