Paytm Aims for PAT Profitability As It Grows Its Core Payments Business

Kolkata : Paytm, India’s leading payments and financial services distribution company and the pioneer of QR, Soundbox, and mobile payments, today held its 24th Annual General Meeting (AGM). The company’s leadership noted that their focus is on the core payments business and highlighted their commitment to delivering Profit After Tax (PAT) profitability, with a robust, scalable business.

Founder and CEO, Vijay Shekhar Sharma, addressed the shareholders and said, “With commitment to the core payments business, we aim to deliver PAT profitability soon.”

He further added that the company now has a compliance-first approach, rigorously adhering to all regulatory requirements. He also acknowledged the resilience of team Paytm over the past six months. “The past six months have taught us many lessons, giving us the opportunity to thoroughly examine our business processes, compliance and the way we operate from the inside out. I can now confidently assure that we have adopted a compliance-first approach, ensuring our business adheres to every regulation fully, both in letter and spirit,” he said.

Sharma further highlighted Paytm’s significant role in India’s digital payments revolution. Being the pioneers of QR code and Soundbox, Paytm has become synonymous with mobile payments in India. Prime Minister Narendra Modi recently highlighted these innovations for their significant impact on the nation’s financial landscape during his address at the Global Fintech Fest in Mumbai.

“Today, India stands at a stage where the world is acknowledging its digital payments revolution,” Sharma said. “Our achievements, particularly in mobile payments, have been the subject of global discussions, underscoring our role in this transformation.”