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Paytm's Vijay Shekhar Sharma's ‘thank you’ message for PM Modi: ‘World is…’
Paytm CEO Vijay Shekhar Sharma discussed AI, recent lessons, and company's future at 24th AGM, highlighting India's payment innovation and thanking PM Modi.
Paytm CEO Vijay Shekhar Sharma addressed company's 24th Annual general meeting in which he talked about the power of AI, lessons learnt in the last six months and future roadmap for the company. Vijay Shekhar Sharma also thanked Prime Minister Narendra Modi for highlighting QR innovation.
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He said, “Today, India stands at a stage where the whole world is talking about India’s payments and its digital revolution.”
He added, “We, as a nation, have leapfrogged to become leaders in financial technology, and now we have the opportunity and obligation to extend that leadership into AI technology.”
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Focus to be on Paytm's PAT, Vijay Shekhar Sharma says
Sharing Paytm's focus, Vijay Shekhar Sharma said, "My board members advised me to shift the focus from EBITDA before ESOP as a benchmark to PAT (Profit After Tax). We recognise that EBITDA before ESOP, due to its large ESOP charge, provides only a partial picture of our financial health. Our commitment is now to focus on PAT, reflecting our drive towards true profitability."
Paytm's AI capabilities
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Reflecting on his company's AI focus, Vijay Shekhar Sharma said, "I also see myself as a navigator of the company. Industries will change and will have a profound impact. The power of AI will become exponential. We have become the leader in financial technology and extend the same lead in AI technology."
Paytm President Madhur Deora said that the company has a robust balance sheet and cash balance was ₹8,500 crore as of FY24. He said, “Paytm wants to bring half-a-billion Indians to mainstream economy through technology led services. Our Paytm soundbox prevents fraud for merchants by announcing only successful transactions and also improves efficiency by removing time and effort of payment verification.”
