Mumbai: The country's largest online wallet giant PTM has suffered heavy losses. As per the latest financial data, PayTM has reported a net loss of Rs 3959.6 crore. The company's net loss was 165 percent higher than the year-ago period.
PayTM is facing stiff competition from other e-wallet bigwigs such as Google Pay and PhonePay. PayTM's parent company One 97 Communications posted a net loss of Rs 3,959.6 crore for the financial year ended March 2019. 1,490 crore in the previous fiscal. The company's revenue rose to Rs 3,319 crore.