BENGALURU: Paytm‘s parent company One97 Communications’ restructuring exercise wherein it separated its online retail from its payments business has helped it pare losses by over 40% to Rs 900 crore in financial year 2016-17 from Rs 1,548 crore in FY16, according to the company’s filings with the Registrar of Companies (RoC).
The company had hived off its ecommerce platform into Paytm Ecommerce (Paytm Mall) while it became a 49% shareholder in the payments bank business because of regulatory reasons in mid-2016.
Paytm E-commerce had paid Rs 620 crore to One97 Communications for the transfer of assets during restructuring. This is likely to have brought down the losses for the parent company. One97 is yet to file its detail…
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