Paytm FY'20 revenue rises to Rs 3,629 cr, loss narrows by 40 pc

New Delhi: Digital financial services firm Paytm on Friday said its revenue for fiscal year ended March 31, increased to Rs 3,629 crore supported by increase in number of transactions across various segments and point of sale devices.

The home-grown financial technology firm said its losses have narrowed by 40 per cent on a year-on-year basis.

"We are on the path to empowering millions of Indians with digital financial services that would play a key role in building Atmanirbhar Bharat. We are also investing heavily in building digital services for our merchant partners.

"Our efforts have started reflecting in the strong adoption of more profitable services by our consumers and merchants," Paytm President Madhur Deora said in a statement.

Major growth registered from financial services and point of sales devices and optimising expenses resulted in a 40 per cent reduction in losses as compared to last year, the statement said.