India News Get -BusinessGoogle India’s FY24 revenue rises 26% to Rs 5,921 Crore, net profit at Rs 1,425 Crore, updates
Google India on Saturday released FY 2024 results. The company’s revenue for the financial year (FY24) ending March 2024 grew 26% year-over-year (YoY) for reaching Rs 5,921.1 crore. In the last financial year i.e. FY23, Google India’s revenue stood at Rs 4,700 crore.
This increase in the company’s revenue is driven by strong growth in digital advertising in India, growing digital adoption and a surge in sales of the tech giant’s enterprise products in the country . Revenue of Rs 1,176 crore from discontinued operations has not been included in these revenue figures of the company.
Operating revenue rose 22% to Rs 5,518 crore
Had this been included, the company’s total revenue would have been Rs 7,097 crore, 25 per cent lower than last year’s Rs 9,470 crore. The company provided this information in its latest filing. The company’s operating revenue grew 22.5% YoY (YoY) to Rs 5,518.1 crore in FY24. In FY23, it was Rs 4,504.7 crore.
Net profit rose 6% to Rs 1,424.9 crore
The company’s net profit in FY24 increased 6% year-on-year to Rs 1,424.9 crore, compared to Rs 1,342.5 crore in FY23. The company’s profit from continuing operations increased 60% to Rs 1,294.4 crore in FY 2024 from Rs 811.3 crore in FY 2023. Meanwhile, the Net profit from discontinued operations declined 76% to Rs 130.5 crore.