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 financial year 2019-20. While its revenues were 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 during the said period, according to the regulatory filing sourced from business intelligence platform Tofler. The company, which competes with Walmart’s PhonePe, Google Pay, MobiKwik, and now WhatsApp Payments as well in the digital payments space, was able to cut its expenses 19 per cent from Rs 7,254 crore in FY19 to Rs 5,861 crore in FY20.