Paytm shareholders approve SR Batliboi & Associates as new statutory auditor

Paytm appoints new auditor: Digital payment services provider Paytm has received approval from its shareholders for the appointment of a new statutory auditor, SR Batliboi & Associates LLP, for a five-year term. This decision was made during the company's 23rd annual general meeting held on September 12. The previous statutory auditor, Price Waterhouse Chartered Accountants LLP, completed its term at the conclusion of the AGM. 

In addition to the auditor appointment, the shareholders also approved the reappointment of Madhur Deora as Executive Director, President, and Group Chief Financial Officer, along with the proposed increase in his salary.

Price Waterhouse Chartered Accountants LLP had earlier resigned as the auditor of Paytm Payments Services Limited, citing changes in auditors at the holding company level and Paytm's practice to align the auditor of the holding company and its subsidiaries for more streamlined audit processes.

44 per cent increase in last 6 months

Paytm's share price has enjoyed a strong upward trajectory over the last six months, significantly outperforming the benchmark Sensex index. The stock has surged by approximately 44 per cent in the past six months, compared to a nearly 9 per cent gain in the Sensex.

On August 25, 2023, the stock reached its 52-week high of Rs 939 on the BSE. Conversely, it touched its 52-week low of Rs 439.60 on November 24 the previous year. Remarkably, the stock has surged by 100 per cent from its 52-week low.

Market experts believe that there is still potential for further upside.

(With PTI inputs)