Fintech major Paytm appoints Sidharth Shakdher as its business head: Report

Vijay Shekhar Sharma-led fintech major Paytm has reportedly appointed Sidharth Shakdher as its Business Head, according to multiple media reports. 

This decision follows his recent departure from Ola Mobility, where he served as Chief Business Officer (CBO).

In his new role at Paytm, Shakdher will work closely with founder and CEO Vijay Shekhar Sharma, with a key focus on driving the company's growth and profitability.

Sidharth Shakdher's role at Paytm

As Business Head, Shakdher is expected to lead Paytm's marketing strategies and business operations.

His responsibilities will involve scaling Paytm’s business growth, enhancing revenue streams, and aligning with the company's broader strategic objectives, especially regarding profitability.

His appointment comes at a crucial time when Paytm is actively focusing on profitability and expanding its market presence.

Previous tenure at Ola

Before joining Paytm, Shakdher spent nine months at Bhavish Aggarwal-led Ola, where he played a pivotal role as the Chief Business Officer.

During his time there, he successfully steered the mobility business towards profitability and launched several new initiatives, such as a consumer loans division, the ONDC food delivery service, and the Ola Loyalty program.

He also oversaw the company's marketing, category operations, and international expansion efforts.

Experience at Disney+ Hotstar and Amazon

Shakdher's diverse experience extends beyond Ola. He previously worked as the Executive Vice President and CMO at Disney+ Hotstar, where he led marketing efforts and helped drive the platform's international expansion.

His work there contributed significantly to the platform's direct-to-consumer (D2C) growth strategy. Additionally, Shakdher has experience working at Amazon, where he managed marketing and growth for the U.S. third-party marketplace.

He has also held senior leadership roles at companies like Samsung, Canon, HP, and Xerox.

Paytm's financial performance

The approval came shortly after Paytm's parent company, One97 Communications, reported a consolidated profit after tax (PAT) of Rs 930 crore for the quarter ending in September 2024.

However, the profit is largely attributed to a one-time gain from the sale of its entertainment ticketing business to Deepinder Goyal-led Zomato. Excluding this one-off transaction, Paytm remains a loss-making entity in the public markets.

Paytm's revenue for the quarter fell 34% year-on-year (YoY) to Rs 1,659 crore, down from Rs 2,519 crore in the corresponding quarter of the previous year.