Paytm's next target is profitability, says CEO Vijay Shekhar Sharma

After One97Communications, the parent company of fintech major Paytm, managed to narrow its losses in the fourth quarter of FY23, its chief executive officer (CEO) Vijay Shekhar Sharma said the company’s next objective is profitability.

“I am very happy to announce our second quarter of EBITDA (earnings before interest, taxes, depreciation, and amortisation) (before ESOP cost) profitability. Our next milestone is to make Paytm cash flow positive in the near future,” Sharma wrote in a letter to shareholders.

He added, “This has been possible by disciplined resource allocation and focusing on what has become our core revenue and growth driver — the payments and financial services distribution business.”