Paytm's Employee Costs Surge 21% in FY24: A Deep Dive into Financials

One 97 Communications (OCL), which operates Paytm, saw employee costs rise by 21% to ₹4,589 crore in FY24, up from ₹3,788 crore in FY23.

CFO Madhur Deora received 15% salary hike, double median hike of 7% for organization. Founder and CEO Vijay Shekhar Sharma did not take a salary hike in FY24, with his remuneration remaining at ₹4.4 crore, fixed for three years since FY22. 

Paytm has undertaken a mission to reduce employee costs by ₹400-500 crore and reportedly laid off over 1,000 employees in FY24. A resolution adopted in August 2024 capped non-executive directors' remuneration at ₹48 lakh annually, with a fixed component of ₹20 lakh.