<p>Digital payments firm Paytm has reported narrowing of consolidated loss to Rs 1,704 crore for 2020-21, according to the company's annual report.</p>.<p>It had posted Rs 2,943.32 crore loss in financial year 2019-20.</p>.<p>When contacted, a Paytm spokesperson said, "Despite a significant disruption in the business of our merchant partners due to the ongoing pandemic especially in the first half of the year, we have had a minimal impact on revenues, due to strong recovery in the second half of the year."</p>.<p><strong>Read more: <a href="https://www.deccanherald.com/national/centre-issues-final-notice-to-twitter-over-it-rules-compliance-994028.html" target="_blank">Centre issues final notice to Twitter over IT rules compliance </a></strong></p>.<p>This is the second consecutive fiscal year when the company has reported narrowing of loss.</p>.<p>The total revenue of the company declined about 10 per cent to Rs 3,186 crore in 2020-21 compared to Rs 3,540.77 crore in the previous year.</p>.<p>"Covid-19 continues to spread across the globe and India. This has an impact on all local and global economic activities. Government of India has taken a series of measures to contain the spread of virus and limit economic impact on corporations and individuals.</p>.<p>"The company has considered the possible effects that may result from Covid-19, on the carrying amount of the receivables, investments, goodwill etc," the report said.</p>.<p>The authorized share capital of the company stood at Rs 104.1 crore comprising over 10.41 lakh equity shares of Rs 10 each.</p>
<p>Digital payments firm Paytm has reported narrowing of consolidated loss to Rs 1,704 crore for 2020-21, according to the company's annual report.</p>.<p>It had posted Rs 2,943.32 crore loss in financial year 2019-20.</p>.<p>When contacted, a Paytm spokesperson said, "Despite a significant disruption in the business of our merchant partners due to the ongoing pandemic especially in the first half of the year, we have had a minimal impact on revenues, due to strong recovery in the second half of the year."</p>.<p><strong>Read more: <a href="https://www.deccanherald.com/national/centre-issues-final-notice-to-twitter-over-it-rules-compliance-994028.html" target="_blank">Centre issues final notice to Twitter over IT rules compliance </a></strong></p>.<p>This is the second consecutive fiscal year when the company has reported narrowing of loss.</p>.<p>The total revenue of the company declined about 10 per cent to Rs 3,186 crore in 2020-21 compared to Rs 3,540.77 crore in the previous year.</p>.<p>"Covid-19 continues to spread across the globe and India. This has an impact on all local and global economic activities. Government of India has taken a series of measures to contain the spread of virus and limit economic impact on corporations and individuals.</p>.<p>"The company has considered the possible effects that may result from Covid-19, on the carrying amount of the receivables, investments, goodwill etc," the report said.</p>.<p>The authorized share capital of the company stood at Rs 104.1 crore comprising over 10.41 lakh equity shares of Rs 10 each.</p>