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One 97 Communications, the parent company of India\u2019s leading digital payments platform Paytm, reported a widening of its consolidated net loss to $66.1 million in the quarter ending March, compared to a loss of $20.11 million in the same quarter last year as it grappled with a regulatory clampdown<\/a>.<\/p>\n For the full fiscal year 2024, Paytm\u2019s consolidated net loss stood at $170 million, down from $213 million in FY23. The Noida-headquartered company\u2019s revenue from operations grew 25% year-on-year to $1.19 billion in FY24, though increased expenses across payment processing charges, marketing, employee benefits and software cloud costs weighed on its bottom line. <\/p>\n Its consolidated revenue from operations fell to $272.3 million in the January-March quarter.<\/p>\n A major blow to Paytm during the quarter was a loss of $27.2 million on impairment of its investment in associate company Paytm Payments Bank Ltd (PPBL). This followed restrictions imposed by the Reserve Bank of India on PPBL\u2019s operations in January<\/a>, effectively permitting only withdrawal of existing customer balances. Paytm subsequently terminated its major business activities with PPBL and fully impaired its investment value.<\/p>\n It still had about $513.8 million in the bank at the end of March 31. <\/p>\n