Paytm Soon to become Profitable says CEO Vijay Shekhar Sharma
Paytm CFO & CEO Vijay Shekhar Sharma answered questions regarding the company's declining stock price, the date when the company's shares will be at the price of the issue.
Image: Jagran Josh
Platform for financial services Paytm is not planning to expand internationally or make any acquisitions, its management informed shareholders on Friday of its strategy to become profitable in 2023.
One97 Communications' share price was at 771.85 in the morning, which is lower by 1.86 percent from the closing price, and 64% less than price of the November 2021 IPO price of 2150 rupees.
In April, Sharma wrote to shareholders informing them that his ESOPs could not be transferred in his name until the share price returned to IPO levels.
We're committed to generating long-term profits. My Esop grant will not be granted till Paytm market cap hasn't exceeded the IPO price." Sharma said at Paytm's first AGM
The company has yet to announce the results of shareholders voting on a resolution concerning the appointment of Sharma as the MD and CEO of the business.
In response to shareholder questions about the share price of the firm, Sharma stated that the price of shares, unlike profit is not the responsibility of the company's management. company.
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"Share price movements are not affected by us. There are a variety of variables. Profitability of a company is an essential role in its. The growth of the company plays an essential aspect, however these aren't the sole factors that affect share prices.
Micro, macro, international investors, and a variety of other factors are a factor in the price of shares." Sharma added