Paytm parent logs Rs 814 crore in revenues

MUMBAI: One97 Communications, which is the parent entity of digital payments company Paytm, has reported a net revenue of Rs 813.8 crore for the financial year 2016-17 and the company's net worth stood at Rs 2,376.6 crore, according to a data accessed from business information platform Tofler. Paytm did not disclose the net profit or loss figures for the year.

Paytm has been one of the biggest beneficiaries of the government's move to demonetise large-value tender last year. The company reported 700% jump in overall traffic and 1,000% growth in the amount of money added into its wallet post demonetisation.

Further, Vijay Shekhar Sharma, the founder of Paytm, took home a gross salary of Rs 3.4 crore for last year, according to the filings.

Besides the digital wallet offering, Paytm has also started a payments bank under a licence from the RBI. The company has appointed ex-ICICI Bank executive Sudhanshu Jain as its chief financial officer for the payments bank.