MAM
Paytm shrinks loss to Rs 1,704 cr in FY21
New Delhi: Digital payments firm Paytm has reported narrowing of its loss for the second consecutive fiscal year. According to its annual report, the company has reduced its consolidated loss from Rs 2,943.32 crore loss in 2019-20 to Rs 1,704 crore for 2020-21.
The total revenue of the company has decreased about 10 per cent to Rs 3,186 crore in 2020-21 compared to Rs 3,540.77 crore in the previous year. Expenses have come down 22 per cent to Rs 4,782.95 crore, largely because of the cut down on marketing and promotional expenses.
According to the company spokesperson, despite a significant disruption in the business of the merchant partners due to the ongoing pandemic especially in the first half of the year, “the company has had a minimal impact on revenues, due to strong recovery in the second half of the year.”
“As Covid-19 continues to spread across the globe and India, it has had an impact on all local and global economic activities. The company has considered the possible effects that may result from COVID-19, on the carrying amount of the receivables, investments, goodwill etc,” the report said.
MAM
Beacon Group appoints Dr Rajesh Patel as Group CEO
36-year healthcare veteran to lead Beacon Diagnostics, Vector Biotek, Biogeny.
MUMBAI: A new chief, a fresh diagnosis and a sharper prescription for growth. Beacon Group has appointed Dr Rajesh Patel as its Group Chief Executive Officer, effective April 1, 2026, signalling a decisive push to scale its presence in the diagnostics and IVD space. Patel steps into the role with 36 years of experience across the healthcare and diagnostics industry, bringing a career shaped by leadership roles spanning sales, marketing, business development and operational strategy. His mandate is both expansive and precise: to steer the group’s overall strategic direction while tightening coordination across its three core entities Beacon Diagnostics, Vector Biotek and Biogeny Diagnostics.
In practical terms, that means driving cross-company synergies, accelerating market expansion and strengthening organisational capability areas increasingly critical as diagnostic players compete for scale in a fragmented yet rapidly evolving healthcare ecosystem. The group is positioning itself to capture unmet demand across chain laboratories, key accounts and standalone labs, segments that remain underserved despite growing diagnostic needs.
The appointment comes at a time when the In Vitro Diagnostics (IVD) sector in India is entering a more competitive and innovation-led phase, with companies focusing not just on product pipelines but also on service delivery, integration and customer-centric models. Beacon’s leadership appears to be betting that Patel’s execution-focused approach can help translate ambition into operational momentum.
Welcoming the appointment, Chairman Dr D K Joshi described Patel’s induction as a strategic move aligned with the group’s long-term vision, emphasising the role of leadership depth in navigating the next phase of growth.
For Beacon Group, the message is clear, in a sector where precision matters, leadership is the new differentiator—and this appointment is intended to set the tone for what comes next.
