Google India Revenues Increase By 35% To Rs 5593 Cr In Last 12 Months; Profit Rise By 24%
Primarily and popularly known as a search engine, Google is one of the most valuable companies in the world and is definitely one of the select few companies doing well in the pandemic situation.
Google is spread throughout the world and there is happy news from its India Branch. Google India which has its offices in Bangalore, Gurgaon, Hyderabad and Mumbai. Google India delivers IT and IT enabled services to companies in the internet space. Along with this, it also sells advertising space to a host of companies
Performance according to the filings:-
As per the regulatory filings made by the company this year 27% of revenue this year came from advertising, 32% from IT-enabled services while the rest of 41% comes from IT services.
According to the disclosure, this year the Tech giant saw its revenues reach 5593.8 Crore, almost 34.8 % increase over previous financial year which was 4147 Crore.
According to Tofler, a marketing intelligence firm, there was also an increase for the Indian subsidiary of Google in the net profit by 23.9% which amounted to 586.2 Crore in FY20 as compared to 478.2 in the previous fiscal year. Expenses also increased by 30.4% to 4455.5 Crore as compared to the preceding fiscal which stood at 3416.5 Crore.
In the filing, the company said “The Board is glad to inform you that during the period beginning from April 1, 2019 and ending on March 31, 2020, the company has achieved a turnover (revenue from operations) of Rs. 53,847 million, which is higher than the earlier year of Rs. 39,928 million.”
According to the spokesperson of Google India “In the FY19-20 financial year, Google India made a pre-tax profit of INR 11,383 Mn, resulting in INR 3,020 Mn of corporate income taxes payable, and invested almost INR 4 Bn in our Indian operations”.
The California headquartered organization is a world leader in search and large part of revenue comes from advertising. Also, it is a market leader in mobile operating systems with Android having most of the market share. Also, Google has deeply entrenched itself within the digital payments space with its Google Pay.
Google’s Social Responsibility Initiatives
The organization takes the Corporate Social Responsibility part very seriously and In the filing, the company said “The Board is glad to inform you that during the period beginning from April 1, 2019 and ending on March 31, 2020, the company has achieved a turnover (revenue from operations) of Rs. 53,847 million, which is higher than the earlier year of Rs. 39,928 million.”