Money & Banking

Google Payment India reports ₹14.8 crore revenue in FY 21

Our Bureau Mumbai | Updated on October 20, 2021

Nets ₹1.4 crore profit, a 210 per cent rise from the last financial year.

Google Payment India Private Limited reported its revenues for the financial year 2020-21 as ₹14.8 crore. The company further reported a net profit of ₹1.4 crore during the same fiscal. This is a 210 per cent increase from the last financial year.

The company’s total expenses for the fiscal were reported as ₹12.8 crore. The company’s assets stood at ₹118.9 crore for FY21 compared to ₹85 crore same time last year whereas its liabilities stood at ₹109 crore for the fiscal compared to ₹75 crore same time last year. The documents were submitted to the Ministry of Corporate Affairs, were assessed by Tofler, and reviewed by BusinessLine.

The payments company’s net worth stood at ₹12 crore for FY21 compared to ₹10 crore at the same time last year. Its return on equity for the fiscal grew by 11.70 per cent for the fiscal.

Informing its stakeholders regarding the outbreak of Covid-19 and its impact, it said: “The outbreak of the novel coronavirus (Covid-19) is leading to global market disruption. The Company expects to recover the carrying amount of all its assets as of March 31, 2021 and no adjustments are required as of March 31, 2021 in relation to Covid-19, considering various internal and external information up to the date of approval of these financial statements.”

It further added that the future impact of the current economic situation is uncertain and difficult to predict. The company will continue to closely monitor any material changes to future economic conditions.

Published on October 19, 2021

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