Paytm: A Completely Indian Entity after Ant Financial's Exit

Paytm has transitioned to being a wholly Indian-owned entity after Ant Financial's recent exit, selling its 5.84% stake in the company for approximately Rs 3,803 crore. This marks a historical shift for the mobile payments company, reflecting founder Vijay Shekhar Sharma's vision of Paytm as a symbolically and structurally Indian firm.

This change in shareholding aligns with a remarkable quarter for Paytm, which posted a net profit of Rs 123 crore, marking its first profitable quarter. The company's operating revenue saw a significant year-on-year increase of 28% while contribution profit surged by 52%. These achievements align with Paytm's dedication to prioritizing Indian ethos and innovation.

In enhancing customer experience, Paytm has unveiled new app features such as privacy-focused payment controls, personalised UPI IDs, and the support for UPI payments across global markets including the UAE and Singapore. As Paytm continues to advance its capabilities and reach, it affirms its commitment to being a leader in the mobile payments industry both domestically and internationally.

(With inputs from agencies.)