India's Paytm posts $100.3m net loss in Q1—its biggest since listing in 2021

India's Paytm posts $100.3m net loss in Q1—its biggest since listing in 2021

FILE PHOTO: A Paytm QR code is seen at a grocery shop in Mumbai, India, November 10, 2021. REUTERS/Niharika Kulkarni

India’s Paytm reported a wider first-quarter loss on Friday, its biggest since it went public in November 2021, hurt by weakness in its payments business after the central bank’s directive to wind down its banking unit.