Highlights
Resignation of Paytm Payments Services CEO
Paytm Payments Services Limited, a fully-owned subsidiary of Paytm, has announced the resignation of Nakul Jain, who previously served as Managing Director and CEO.
Prior to joining Paytm in April 2022, Jain held the position of Managing Director for Private Banking, Priority Banking, Deposits, and Branch Banking in India at Standard Chartered Bank. He has decided to resign from his role at Paytm to embark on an entrepreneurial journey.
In its stock exchange filings, Paytm confirmed that it is proactively searching for a successor while maintaining its dedication to growth and business goals. Furthermore, the subsidiary has obtained the Government of India’s approval for downstream investment and continues to deliver payment aggregation services to online merchants.
Significant Changes in Paytm Leadership
Paytm experienced considerable leadership changes last year. Notably:
- Surinder Chawla resigned as MD and CEO of Paytm Payments Bank on April 8.
- Vijay Shekhar Sharma stepped down as part-time non-executive chairman and board member.
- Sidharth Shakdher took on the role of Business Head in October after departing from his position as CBO at Ola Mobility.
Financial Results for Q3 FY25
Paytm has released its financial results for the third quarter of the current fiscal year (Q3 FY25). The company, based in Noida, reported:
- Revenue of Rs 1,828 crore
- Net loss of Rs 208 crore for the quarter