According to Bloomberg, the company reported a staggering $100 million loss in the first quarter ending June 2024, with revenue plummeting to $179.5 million from $280 million in Q1 2023.
The RBI's order to restrict operations at Paytm Payments Bank significantly impacted revenue, reflecting the first full financial impact this quarter, with the central bank citing 'persistent non-compliance' leading to barred services.
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