The fintech firm- Paytm has reportedly appointed Sidharth Shakdher as its new Chief Marketing Officer (CMO) and Business Head.
Shakdher quit Ola within nine months of joining the Bhavish Aggarwal-led company. During his tenure, he played a key role in launching the consumer loans division and rolling out the Ola Loyalty program and the ONDC food delivery service, among other achievements.
In his new role, Shakdher will work closely with Paytm’s CEO, Vijay Shekhar Sharma, to scale Paytm while building profitability.
In his over 25 years of experience, he has held key executive roles at major companies including Disney+Hotstar, Samsung, Canon, HP, Xerox, and Amazon.
Before joining Ola, he was the EVP and CMO at Disney+ Hotstar, where he contributed to the platform’s international expansion and direct-to-consumer strategy.
Prior to that, Shakdher led the third-party marketplace and category marketing for Amazon in the US.
Among his various roles, he has also led innovation for Reckitt’s flagship brand, Dettol, for North America, launching and successfully establishing Dettol in the personal care segment in the US for Reckitt.
Read more: Paytm posts Rs 930 crore profit in Q2 driven by Zomato sale
One 97 Communications Ltd, the parent company of digital payments giant Paytm, reported a significant turnaround in its financial performance for the second quarter ended September 2024. The company posted a profit of Rs 930 crore during the period, a stark contrast to the Rs 290 crore loss recorded a year ago.
The company’s profitability was primarily driven by a one-time gain of Rs 1,345.4 crore from the sale of its movie ticketing and events businesses to Zomato Limited. Excluding this exceptional item, Paytm’s core operations continued to be in the red, with a loss of Rs 495 crore.
While the company’s overall revenue from operations declined by 34% year-on-year to Rs 1,659 crore, it saw a slight increase from the Rs 1,501 crore reported in the previous quarter.