Google India profit rises 6% to Rs 1,425 in FY24: Rediff Moneynews

Google India’s profit after tax (PAT) rose 6% to Rs 1,425 crore in FY 2023-24, driven by 26% revenue growth. The company’s total revenue reached Rs 7,097.5 crore.

New Delhi, Nov 1 (PTI) Google India has posted a profit after tax (PAT) of Rs 1,424.9 crore for the financial year 2023-24, according to documents provided by Tofler on Friday.

The company declared a PAT of Rs 1,342.5 crore in FY23.

Google India reported total revenue of Rs 7,097.5 crore for the financial year under review, comprising Rs 5,921.1 crore from continuing operations and Rs 1,176.4 crore from discontinued operations.

In 2020-21, Google India filed an application before the National Company Law Tribunal (NCLT) for demerger of the company’s IT business with Google IT Services India Pvt Ltd.

“During the financial year 2023-24, the scheme of arrangement was approved by NCLT order dated May 25, 2023 and came into effect with effect from June 30, 2023 in the financial statements,” Google said in a statement.

Following the approval of the Scheme of Agreement, Google India’s IT businesses were transferred to Google IT Services India Pvt Ltd with effect from April 1, 2021.

“Google India Private Limited reported its revenue for the financial year 2023-24 at Rs 5,921 crore, up 26 percent from the last financial year. The company also reported a net profit of Rs 1,425 crore for the same financial year. This Total expenditure of the company for the financial year was Rs 4,184 crore,” Tofler said in the report.

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