Paytm to focus on core business; deliver profitability soon: CEO Sharma | Company News

Paytm will focus on its core business of payments and cross-selling financial services as it seeks to reach “profitability soon”, said Vijay Shekhar Sharma, founder and chief executive officer of the fintech, on Thursday.


“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 safely guarantee you that we have embraced a compliance-first strategy, ensuring our firm adheres to every legislation fully, both in text and spirit,” he said at Paytm’s annual general meeting.





“With a commitment to the core payments business, we aim to deliver PAT profitability soon,” Sharma added, referring to profit after tax. The Reserve Bank of India (RBI) in February ordered the payments bank subsidiary of Paytm to stop taking additional deposits in its accounts or popular wallets from March.


Sharma said Paytm will apply to the RBI for a payments aggregator licence in due time. The company just got foreign direct investment approval from the Indian government.


Paytm is employing artificial intelligence in its goods, business and operations. “Some of these technologies are so advanced that they could potentially form entire businesses on their own. However, we remain focused on our core payments business and cross-selling financial services,” he said.


Paytm services 40 million merchants and intends to reach 100 million. “The company’s strategic initiatives include leveraging advanced technology to offer financial services like loans, insurance, and mutual funds, thus broadening its market reach and promoting financial inclusion,” Sharma added.


The Noida-based company posted a loss of Rs 839 crore in the first quarter of FY25, as the impact of the limitations on payments bank remained. Loss was also attributable to a decline in revenue from payments and financial services sectors. The company’s total income decreased 33.5 per cent year-on-year to Rs 1,639.1 crore in the quarter.