Vijay Shekhar Sharma Vows Profitability, PayTM Shares Surge
- PayTM shares rose 2% as CEO Vijay Shekhar Sharma committed to achieving PAT profitability at the AGM. - Sharma highlighted India's leadership in financial technology and the potential to extend it into AI. - The focus is now on core business areas like payments and financial services distribution. - PayTM aims to cut costs through AI adoption, with shares quoting Rs 681.05 on the NSE. - Despite a widened net loss in Q1FY25, the company plans aggressive cost-saving measures. Source: [Moneycontrol](https://www.moneycontrol.com/news/business/markets/one-97-communication-shares-rise-as-vijay-shekhar-sharma-commits-to-profitability-at-paytm-agm-12820038.html)
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Paytm Layoffs: 20% gone
Paytm layoffs have already begun two weeks ago and come as Paytm's Payment Bank has been barred by RBI from conducting several businesses.
https://www.hindustantimes.com/business/paytm-layoffs-paytm-is-cutting-several-jobs-across-deparments-amid-crisis-101710382968024.html