Google India Digital Services’ net profit rises 62% to Rs 53 cr in 2020-21

Google India Digital Services, which operates Google Pay in the country, has seen its net profit rise about 62 per cent to Rs 53.22 crore, even as its revenue from operations fell two per cent 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 Rs 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 Rs 53.22 crore in 2020-21, from Rs 32.86 crore in 2019-20. The company, which competes with players like Paytm, PhonePe and Amazon Pay, saw its expenditure decline to Rs 1,402.98 crore in 2020-21, from Rs 1,457.63 crore in 2019-20.