Google India's FY24 profit rises to ₹1,425cr, revenue soars 26%
What's the story
Google India has posted a increase in its profit after tax (PAT) for the fiscal year 2023-24.
The tech giant's PAT increased to ₹1,425 crore, up from ₹1,342.5 crore in the previous fiscal, as per data shared by Tofler.
The company's total income for the reported fiscal year stood at ₹7,097.5 crore, comprising ₹5,921.1 crore from continuing operations and ₹1,176.4 crore from discontinued operations.
Revenue drivers
Digital advertising and enterprise product sales drive revenue growth
Google India posted revenues of ₹5,921 crore for the FY 2023-24, a 26% increase over the previous fiscal.
The jump was mainly driven by strong growth in digital advertising and an increase in sales of the company's enterprise products.
Total expenses for the fiscal were reported at ₹4,184 crore with employee benefits expense increasing 10% to ₹1,989.2 crore in FY24 from ₹1,807.5 crore in FY23.
Business growth
Google India's ITES services and enterprise product sales
Google India earned ₹2,389.6 crore by offering ITES services during the fiscal, up from ₹2,070.4 crore last year.
Gross sales from enterprise products also witnessed a major 35% jump to ₹1,551.9 crore for the year, up from ₹1,152.5 crore in FY23.
Net sales grew by a whopping 40% to ₹155.4 crore in FY24, up from ₹111.2 crore in FY23 with products like Gmail and Google Docs.