Paytm Mall Reports Net Loss of Rs 13.63 Cr in 2016-17
Paytm Mall reported a net loss of Rs 13.63 crore on total sales of Rs 7.35 crore between August 2016 and 31 March 2017, as per the filings with Registrar of Companies (RoC).
Total expenditure was Rs20 crore, while reserves and surplus stood at Rs1,284 crore, the filings showed.
Paytm Mall spun off as a separate entity earlier this year and stated that since it has recently started its operations, it should not be seen as a loss but an investment.
"These are the initial years for Paytm Mall and we have a long-term perspective on building a successful tech business. We will help customers receive the same trusted retail experience synonymous with our brand and act as a technology enabler for the country's massive offline retailer community. We will achieve this with our first-of-its-k...