Google Payment India reports operating revenue of Rs 14.75 crore in FY21
The company's net profit for the fiscal was Rs 1.41 crore, compared to Rs 45.65 lakh
Published - Oct 20, 2021 8:42 AM Updated- Oct 20, 2021 8:42 AM
Google Payment India has reported operating revenue of Rs 14.75 crore for the fiscal ended 31st March 2021 as against Rs 4.69 crore in the previous fiscal, according to financial data accessed by business intelligence platform, Tofler.
The company's net profit for the fiscal was Rs 1.41 crore, compared to Rs 45.65 lakh. EBITDA came in at Rs 6.05 crore, as against Rs 4.37 crore. The company’s net worth stood at Rs 12 crore for FY21, compared to Rs 10 crore.
Google Payment India is a subsidiary of Google Inc., USA and is primarily engaged in providing business support services to Google Asia Pacific Pte. Limited (GAP) and Google Ireland Limited (GIL).
It has entered into agreements to provide payment facilitation services to GAP, which includes assistance in collecting payment from third-party payment aggregators in India (appointed by GAP) in relation to services provided to Indian customers.
It is also responsible for settlement of funds, to GAP or third-party merchants in India, collected from third-party payment aggregators in India in relation to company services provided to Indian customers. Additionally, it also provides back office support services provided to GAP and services to GIL for YouTube.
It also assists GIL in collecting payments from third-party aggregators in India, for sale of YouTube products and services (other than Google Ads on YouTube) by GIL to Indian consumers. The company settles funds to GIL, collected from third-party aggregators in India in relation to sale of YouTube products and services (other than Google Ads on YouTube) by GIL to Indian customers.
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