Paytm re-appoints Vijay Shekhar Sharma as MD & CEO

Vijay Shekhar Sharma has been re-appointed as Managing Director and Chief Executive Officer of Paytm a tenure of 5 years. His tenure will be from December 19, 2022, to December 18, 2027.

Madhur Deora has been appointed as the Whole-time Director of Paytm for a tenure of 5 years from May 20, 2022, to May 19, 2027. Madhur Deora will also continue to act in the capacity of Chief Financial Officer of Paytm. 

Paytm's parent firm One 97 Communications on Friday had announced its January-March quarter results for FY22. It reported a widening of consolidated net loss to Rs 763 crore for the quarter ending 31 March 2022. The firm had posted a loss of Rs 778.5 crore in the December quarter and Rs 444 crore in the year-ago period. 

The consolidated revenue from operations grew 89 per cent year-on-year (YoY) to Rs 1,540.9 crore in the quarter under review as compared with Rs 815.3 crore in the corresponding quarter last year. Main drivers were increase in merchant payments processed through MDR bearing instruments (Paytm Wallet, Paytm bank account, cards, etc) and disbursements of loans through our partners on Paytm platform, the company said in a regulatory filing.

The company saw its revenue jump by 77 per cent in FY22 to Rs 4,974 crore from Rs 2,802 crore the previous year.

Paytm's contribution profit (defined as Revenue from operations less direct costs) improved to 35 per cent of revenue from 21.4 per cent in same quarter last fiscal and 31.2 per cent in previous quarter of this fiscal.

Shares of Paytm on Friday closed 3.30 per cent higher at Rs 572 apiece.

Also read: Paytm Q4 results: Net loss widens to Rs 763 cr, revenue surges 89%