One97 Communications, which owns and operates digital payments service Paytm, has reported a marginal 1 per cent fall in its revenues and a 28 per cent decline in losses for the economic year 2019-20. While its revenues had been down from Rs 3,391 crore in FY19 to Rs 3,350 crore in FY20, losses fell from Rs 3,954 crore to Rs 2,833 crore for the duration of the stated period, according to the regulatory filing sourced from enterprise intelligence platform Tofler. The firm, which competes with Walmart’s PhonePe, Google Pay, MobiKwik, and now WhatsApp Payments as nicely in the digital payments space, was in a position to reduce its expenditures 19 per cent from Rs 7,254 crore in FY19 to Rs 5,861 crore in FY20.