Paytm’s e-commerce marketplace segment Paytm Mall, reportedly has been hit by a 35 per cent reduction in losses to INR 1,171 crore in 2019 against the loss of INR 1,806 crore in 2018, reported ET.
Whereas, according to sources, Paytm Mall saw revenue jump 25 per cent to INR 968 crore in FY19, from INR 775 crore in the previous reporting period.
While, other expenses, which contributed the largest chunk of spending, reduced to INR 1,913 crore from INR 2,215 crore.
Surprisingly, in early October this year, Paytm Mall has stated that it was targeting to generate over INR 500 crore in actual sales and business during the recent gone festive season.
Also read: Paytm Mall aims to generate over ₹500 cr in sales during festive season
Based out of Noida, Paytm was founded in 2010 by Vijay Shekhar Sharma with an aim to bring an ease in the digital payments ecosystem across India.
Whereas, Paytm Mall, is a platform provided by Paytm for user to shop, it works just like any other e-commerce website or application.
The company Paytm Mall also claims that it does not own and operate warehouses, rather it partners with the sellers and encourages them to use the local courier services for delivery, thereby bringing down the delivery time and costs.
Besides Paytm Mall, other e-commerce platforms include Amazon, Flipkart, ShopClues, Jabong, Myntra and many more.