Paytm CEO Vijay Shekhar Sharma addressed the company’s 24th Annual General Meeting (AGM), where he reflected on key lessons from the last six months, discussed the company’s future roadmap, and expressed gratitude to Prime Minister Narendra Modi for recognizing Paytm’s QR code innovation. Sharma also outlined Paytm’s plans to prioritize profitability and lead in AI technology.
India’s Leadership in Financial Technology:
Vijay Shekhar Sharma emphasized India’s growing influence in the global digital payments sector during his speech. He remarked, “Today, India is at a stage where the whole world is talking about India’s payments and digital revolution.”
He highlighted how India has become a leader in financial technology, leapfrogging other nations. Vijay Shekhar Sharma stated that Paytm now has the opportunity to extend this leadership into artificial intelligence (AI) technologies.
Paytm Focus on Profit After Tax (PAT):
Sharma shared a key shift in Paytm’s financial strategy, moving the focus from EBITDA before ESOP to Profit After Tax (PAT) as the company’s main profitability benchmark. He explained, “My board members advised me to shift the focus from EBITDA before ESOP as a benchmark to PAT (Profit After Tax).
We recognize that EBITDA before ESOP, due to its large ESOP charge, provides only a partial picture of our financial health. Our commitment is to focus on PAT, reflecting our drive towards true profitability.”
This decision underscores Paytm’s effort to provide a clearer picture of its financial health and long-term profitability.
Harnessing AI Capabilities:
Sharma also discussed AI’s transformative power and its profound impact on industries. He noted, “The power of AI will become exponential. We have become the financial technology leader and aim to extend that lead in AI technology.”
Sharma views AI as a critical component of Paytm’s future growth and competitiveness, indicating the company’s commitment to remaining at the forefront of fintech and AI innovation.
Strong Financials and Focus on Inclusion by Paytm:
Paytm President Madhur Deora reinforced the company’s financial health, revealing that Paytm has a robust balance sheet with a cash balance of ₹8,500 crore as of FY24.
Deora highlighted Paytm’s mission to bring half a billion Indians into the mainstream economy through technology-led services. Innovations like the Paytm soundbox help merchants by preventing fraud and improving payment verification efficiency.
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