PayPal India reports Rs 260 crore as revenue in Fiscal Year 2018, from Rs 21 crore last year

Reader's Pick

PayPal Inc, a U.S. based worldwide online payment merchant, has announced that its Indian business has reported a twelve-fold increased in its revenue in FY18 to Rs 260 crore.

In a report filing at Ministry of Corporate affairs, PayPal said that “It’s Indian subsidiary PayPal India has saw a huge increase in its Indian business, where the company has generated Rs 260 crore as revenue in the Fiscal year 2018, as compared to Rs 20 crore the previous year.”

The company added, “The net profit of the company grew at a modest pace during this period were the company reported nearly to Rs 2 crore as profit from Rs 1.4 crore in the previous year.”

- Advertisement -

Quoting to the person familiar with this matter, ET reported “As the revenue going up, the company has increased its investments in India across heads including technology augmentation, expansion of headcounts in India and setting up its new office in Mumbai.

- Advertisement -

Read latest Business News and Startup news on TechGraph. Watch live and latest news on TechGraph TV. Follow us on Facebook or follow us on Twitter and Instagram. Listen audio news from TechGraph Briefings on Spotify, Google Podcast, Amazon Music & on Apple Podcast.
 

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Bank of Japan keeps monetary policy steady, brings new forward guidance on rates

The Bank of Japan kept its monetary policy steady on Thursday but introduced new...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sought...

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($239 billion) with...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the first time ever for...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rahul Gandhi...

CASHe launches WhatsApp-based instant credit line services

India-based credit-led Ai-driven fintech platform, CASHe has announced the launch of Ai-powered chat capability...

Budget 2022-23: Banking, NEO Bank & NBFC Sector Expectations

Banking, Neo Bank & NBFCs sector expectations from Budget 2022: As Union Finance Minister...

Maruti Suzuki plans to increase vehicle prices from next month

India’s leading automaker Maruti Suzuki has decided to increase the prices of its vehicles...

Adtech startup ExperientalEtc raises $200K from StartupLanes

Mumbai-based Adtech startup, ExperientalEtc has raised $200K in series seed round funding led by...

4 Top Challenges in a Small Business

Running a small business is not easy. You will face many challenges along the...

How Ginesys retail ERP Software Can Solve 7 Common Manufacturing Problems

The retail industry is undergoing a massive transformation. Customers nowadays prefer shopping through multiple...

Ampere Electric to setup e-mobility manufacturing plant in Tamil Nadu

Electric Mobility Company Ampere Electric has announced a phased investment potential of Rs 700...

How to choose top payout casinos online

Each casino sets its conditions for the withdrawal of winnings. However, all gambling clubs...

Planning To Start Generating International Sales? This Post Is For You

Whether you’re an established local business or you’ve only recently launched a startup doesn’t...