Google India Digital Services' net profit rises 62% to ₹53 cr in 2020-21
The Hindu
Google India Digital Services, which operates Google Pay in the country, has seen its net profit rise about 62% to ₹53.22 crore, even as its revenue from operations fell 2% to Rs 1,497.6 crore in 2020
Google India Digital Services, which operates Google Pay in the country, has seen its net profit rise about 62% to ₹53.22 crore, even as its revenue from operations fell 2% to Rs 1,497.6 crore in 2020-21 over the previous fiscal, according to regulatory documents.
Google Pay's revenue from operations declined to ₹1,467.36 crore in 2020-21 from Rs 1,497.66 crore in 2019-20, according to the Registrar of Companies filing, shared by market intelligence firm Tofler.
Its profit after tax increased to ₹53.22 crore in 2020-21, from ₹32.86 crore in 2019-20. The company, which competes with players like Paytm, PhonePe and Amazon Pay, saw its expenditure decline to ₹1,402.98 crore in 2020-21, from ₹1,457.63 crore in 2019-20.
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