India's Paytm quarterly net loss widens to 6.45 billion rupees

FILE PHOTO: A QR code of Paytm is seen at a mobile repairing shop in Kolkata, India, November 9, 2021. REUTERS/Rupak De Chowdhuri

NEW DELHI (Reuters) - India's digital payments firm Paytm on Friday reported a wider first-quarter net loss as expenses related to marketing and employee benefits rose, the company said in a stock exchange filing.

The company's parent firm One 97 Communications Ltd posted a consolidated net loss of 6.45 billion Indian rupees ($81.28 million) for the quarter ended June 30, compared with a loss of 3.81 billion rupees a year earlier.

Total income, however, rose nearly 88% to 17.81 billion Indian rupees.

(Reporting by M. Sriram; Editing by Kirsten Donovan)