One97 Communications, the parent company of Paytm, has narrowed its consolidated loss to ₹1,704 crore in FY21 from ₹2,943.32 crore in FY20, according to the company's annual report. The total revenue of the company declined about 10% to ₹3,186 crore, whereas its expenses dropped 22% to ₹4,782.95 crore. Earlier, Bloomberg reported that Paytm is planning for an IPO this year.