Tech giant Google saw its India revenues grow 34.8 per cent to about Rs 5,593.8 crore(US$6.65million) in 2019-20 over the previous financial year, as per regulatory documents.
Google India’s total income was at Rs 4,147 crore 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 per cent at Rs 586.2 crore in FY20 as compared to Rs 472.8 crore in the preceding fiscal, it added.
India’s telecom sector, in the efforts of enabling policies including more quantum of the spectrum, is set to establish new benchmarks in the next-generation network deployments and service delivery.
“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,” the filing said.
Google India’s total expenses rose 30.4 per cent to Rs 4,455.5 crore in FY20 from Rs 3,416.5 crore in 2018-19.
When contacted, a Google India spokesperson said: “In the FY19-20 financial year, Google India made a pre-tax profit of Rs 11,383 million, resulting in Rs 3,020 million of corporate income taxes payable, and invested almost Rs 4 billion 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 per cent of the company’s turnover, while the share of IT-enabled services stood at 32 per cent and that of IT services was at 41 per cent.
“From April 1, 2019, to March 31, 2020, the company made 4 CSR grants, totalling about Rs 13.34 crore 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. https://telecom.economictimes.indiatimes.com