One97 Communications, parent of digital wallet Paytm, clocked $126 Mn (INR 813.8 Cr) in total revenue for the fiscal year ending in March 2017. As per filings with the Ministry of Corporate Affairs (MCA), the company’s net worth for the year stood at $368 Mn.
According to sources, Paytm founder Vijay Shekhar Sharma received a gross salary of $526K (INR 3.4 Cr) last year.
In fact, in the month of September, Sharma along with Flipkart founders Binny Bansal and Sachin Bansal and Byju Ravindran of Think And Learn were featured in the 6th “Hurun India Rich List 2017”, which is a list of the richest people in India with total wealth upwards of $153 Mn (INR 1,000 Cr).
In addition to the digital wallet, the firm got Paytm Payments Bank incorporated in August last year. The payments bank was formally launched operations in May 2017.
It was recently reported that, between August 2016 and March 2017, Paytm Payments Bank reported losses of around $4.6 Mn (INR 30.7 Cr). The firm saw a turnover of $378K (INR 2.47 Cr) during the said period.
As per its MCA filings, total expenditure between August 22, 2016 and March 31, 2017, touched $5 Mn (INR 33 Cr), while the bank’s authorised capital reached $61.2 Mn (INR 400 Cr). The net worth of Paytm Payments Bank, according to sources, currently stands at $28.6 Mn (INR 187 Cr).