Paytm Money said to get new CEO

Paytm Money, the stockbroking arm of One 97 Communications Ltd., plans to appoint Sandiip Bharadwaj as its new CEO.

Bharadwaj previously served as chief operating and digital officer at HDFC Securities, where he led the tech-driven discount broking platform, HDFC Sky.

He has also worked at IIFL Securities and Angel One, and reportedly left HDFC Securities about a month ago.

Neither Paytm Money nor HDFC Securities has commented on the matter.

As of June 2025, Paytm Money had over 724,000 active traders, according to NSE data.

The firm reported a net profit of 71 crore rupee (US$8.2 million) for FY 2023–2024, its second straight year of profitability.

🔗 Source: The Economic Times

🧠 Food for thought

1️⃣ Stockbroking platforms demonstrate rare profitability amid fintech challenges

Paytm Money stands out as a profitable unit within the Paytm ecosystem, generating Rs 71 crore in net profit on Rs 195.7 crore in revenue for the 2023-24 financial year.

This marks its second consecutive profitable year, having first achieved profitability in 2022-23, while many of Paytm’s other business verticals continue to operate at a loss.

The stockbroking subsidiary’s financial success comes at a crucial time for the parent company, which reported overall declining revenue (down 16% in Q4) and continued losses in its most recent earnings report.

This suggests that certain financial service verticals may provide more sustainable business models within the broader fintech ecosystem, particularly those focused on investment products that generate transaction fees and interest income.

Paytm Money’s margin trade funding initiative, launched in December 2023, has already disbursed Rs 92 crore, potentially creating a new revenue stream that executives describe as “scaling up nicely.”

2️⃣ Indian retail investment platforms undergo leadership churn amid fierce competition

The appointment of Sandiip Bharadwaj represents the third CEO change for Paytm Money in just over a year, following Varun Sridhar’s departure in June 2024 and Rakesh Singh’s brief tenure.