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Home Gadgets Vijay Shekhar Sharma reappointed MD and CEO of Paytm for five years

Vijay Shekhar Sharma reappointed MD and CEO of Paytm for five years

New Delhi: Digital funds main on Saturday reappointed Vijay Shekhar Sharma as managing director and chief govt officer for a tenure of 5 years from December 19, 2022 to December 18, 2027, the corporate knowledgeable the BSE.

The corporate additionally knowledgeable the exchanges that Madhur Deora has been appointed as whole-time director and chief monetary officer of the corporate for 5 years.

Deora has been related to the corporate since October 2016.

One97 Communications, which runs the digital funds model Paytm, on Friday
reported a consolidated loss of Rs 2,396.4 crore for fiscal year 2022, about 41% wider than the earlier yr’s Rs 1,701 crore.

Consolidated income for the yr ended March 31 grew 65% to Rs 5,264.3 crore from Rs 3,186.8 crore in FY21, as per filings made with inventory exchanges on Friday night.

For the fiscal fourth quarter, its consolidated loss widened to Rs 762.5 crore from Rs 444.4 crore a yr earlier. Income for January-March rose 81% to Rs 1,648.4 crore, pushed by progress in gross merchandise worth processed from its cost devices, in addition to a rise in mortgage disbursals.

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The corporate additionally knowledgeable the exchanges that the board of their assembly held on Might 20, 2022, has authorized the proposal to speculate an quantity of as much as Rs 950 crore (“proposed transaction”) in Paytm General Insurance Restricted in tranches, over a interval of 10 years and to carry an upfront fairness stake of 74%.

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