Another Rs 265.9 crore were collected from the Singapore based parent for the business support services provided during the fiscal ended in March 2020. While the company’s total income grew 34.2% from Rs 1,119 crore in FY19 to Rs 1,501.7 crore in FY20, 80.5% of the topline i.e Rs 1,173.4 crore was actually reimbursements received from the holding entity Google Asia Pacific recorded as revenues.īreaking down the collections further, we see 77.2% of the total income was reimbursement for rewards given to users on its platform which amounted to Rs 1,159.7 crore during FY20. These numbers look impressive for any company operating in India as the second largest UPI payment platform controlling 39.5% of the market, but there’s more to it as we look closer. On first glance, Google Pay India’s annual results look stellar as the company managed to achieve a 6.5X growth in its profits for the year which grew from Rs 5.1 crore in FY19 to nearly Rs 33 crore in FY20 while also improving its EBITDA margin from 3.49% in the previous fiscal to 5.02% this year.

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