Paytm shares increase on Vijay Shekhar Sharma's reappointment as MD and CEO

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

[{"selector":"#anim-ffbe82a0-df25-4d44-8398-4e6bbe81643c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e8dc8889-b64f-414e-8816-e50d70ab1a3d","keyframes":{"transform":["translate3d(0px, 160.81484%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

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

[{"selector":"#anim-eb2bda22-d1af-475d-be34-4ebd57574731","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b3a442e0-c0b2-4d6e-a2f0-fa3daa07d76f","keyframes":{"transform":["translate3d(0px, 157.19615%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

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

[{"selector":"#anim-2f530a9a-a438-496a-8308-ace17ac9db16","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8623679d-4193-4aec-a960-157897db6f99","keyframes":{"transform":["translate3d(0px, 175.81703%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

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

[{"selector":"#anim-330b2915-9c1b-4ae2-a964-0da8a7989929","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9939dc2d-bdbc-468f-8622-00d332cd8d33","keyframes":{"transform":["translate3d(0px, 189.48412%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

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

[{"selector":"#anim-b7270778-ed3a-4ea7-9e90-26a94fbbcdd1","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f74bc295-1fc9-4ba4-9d6e-6a1837f4fcf3","keyframes":{"transform":["translate3d(0px, 194.00195%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

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

[{"selector":"#anim-fd7b49ee-4d80-4abb-8f94-1c2da5f8ebf0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-af5e877e-c568-4078-a92c-49b8bb1cb834","keyframes":{"transform":["translate3d(0px, 181.44842%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

and merchants in collaboration with financial institutions.

[{"selector":"#anim-cd8fb843-f522-4302-a7bd-9cc440146698","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b89396bd-7d53-46c0-aba0-510eec79635d","keyframes":{"transform":["translate3d(0px, 313.88884%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

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

[{"selector":"#anim-bd73baf1-c3b6-4230-a60f-a67dfdbfa938","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-863cac77-1269-447e-a7f6-286c38a7686d","keyframes":{"transform":["translate3d(0px, 172.39860%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

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

[{"selector":"#anim-81e245c8-ff24-4910-acda-7d1b2e83ab62","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e3689ad4-376d-45ca-8171-d86f8ec9de9c","keyframes":{"transform":["translate3d(0px, 225.29247%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]