After the business reappointed Vijay Shekhar Sharma as MD and CEO, shares of One97 Communications,

which runs the financial services platform Paytm, increased more than 1.5% in early morning trading.

One97 Communications' shares were up 1.74 percent to Rs 785.55 a share as of 11 a.m.

On August 21, Vijay Shekhar Sharma was reappointed as MD & CEO of Paytm during a shareholders meeting.

 According to a statement from Paytm, the resolution received a total of 99.67% of the votes cast in favour of it.

Paytm facilitates small business trade and disperses a range of financial services to its customers 

and merchants in collaboration with financial institutions.

One97 Communications' consolidated loss increased in the April-June quarter from a net loss of Rs 380.20 crore to Rs 644.40 crore.

 In Q1FY23 compared to Q1 June 2021, revenue increased 89% at Rs 1,680 crore.