Paytm, the country’s largest digital payment company has suffered a major setback. Abhishek Arun, Renu Satti, and Abhishek Gupta, all three gave a resignation together at Paytm. Mint reported that the three executives have just left the financial services firm of the company that was recently listed on the stock market.
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Three executives at Paytm left: Abhishek Arun, chief operating officer of Paytm Payments Bank, Renu Satti, chief operating officer of Offline Payments, and Abhishek Gupta, senior vice president and chief lending officer. Renu Satti has been working with Paytm since 2006
In the report, Abhishek Arun posted on his LinkedIn account about a week ago that he had decided to leave the company after 6 years. Renu Satti, talking about Abhishek Arun, was working with Paytm since 2006. The company has grown a lot because of him.
It is being reported that Abhishek Gupta joined the company only a year ago as Senior Vice President and COO-Lending. Paytm and Abhishek also had a very short relationship and resigned too. A notice period is currently in effect at the company. Despite the resignations of three of its senior executives, the company has not yet issued an official statement.
The company’s CEO, Amit Nayar, has also left Paytm
Paytm is experiencing major problems following its disappointing stock market listing. It is being reported that many big officers have left Paytm in the last two years. Amit Nayar, the company’s chairman, resigned shortly before the IPO was brought in November.
Earnings from Paytm
According to the company, income for the period July-September increased by 64 percent to Rs 1090 crore. This is the first time Paytm has released earnings since it listed. Last year, the Loss for the same period was 437 crores, compared to 473 crores this year. Expenses increased to about 1,600 crores, compared to 1,170 crores a year ago.