Google India FY20 Revenue Rises 35% To INR 5,593 Cr, Profit Up 24%
Google India's total expenses rose 30.4% to INR 4,455.5 Cr in FY20 from INR 3,416.5 Cr in 2018-19
Google's net profit was higher by about 23.9% at INR 586.2 Cr in FY20 as compared to INR 472.8 Cr in the preceding fiscal
Tech giant Google saw its India revenues grow 34.8% to about INR 5,593.8 Cr in 2019-20 over the previous financial year, as per regulatory documents.
Google India's total income was at INR 4,147 Cr in the financial year ended March 31, 2019, according to Registrar of Companies filing shared by market intelligence firm Tofler. The net profit was higher by about 23.9% at INR 586.2 Cr in FY20 as compared to INR 472.8 Cr in the preceding fiscal, it added.
"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 INR 53,847 Mn, which is higher than the earlier year of INR 39,928 Mn," the filing said.
Google India's total expenses rose 30.4% to INR 4,455.5 Cr in FY20 from INR 3,416.5 Cr in 2018-19.
When contacted, a Google India spokesperson told PTI , "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".
Google India is engaged in the rendering of IT and IT-enabled services to its Group Companies engaged in the internet industry.
The company is also a third-party reseller of advertising space of Google Adwords programme and other Google advertising products and services in India to advertisers seeking to market their products and services to consumers and business users over the internet.
According to the filing, advertising revenue contributed about 27% of the company's turnover, while the share of IT-enabled services stood at 32% and that of IT services was at 41%.
"From April 1, 2019, to March 31, 2020, the company made 4 CSR grants, totalling about INR 13.34 Cr to non-governmental organisations working to improve the quality of education and safety of children," the filing said.
These organisations have used the funds in improving the education system and for the safety of the children and to experiment with new technologies to enhance their work and create innovative new products to make work and teaching more accessible, it added.
According to the Ministry of Corporate Affairs filings accessed by Inc42 , the Indian subsidiary of Google , Google India, had reported a profit of INR 473 Cr in FY19, a 16% increase from INR 406 Cr in FY18.