In FY24, Google India achieved a 26% revenue growth, surpassing Rs 5,500 crore, while profit after tax rose by 6% to Rs 1,424 crore. Operating revenue increased to Rs 5,518 crore, up from Rs 4,504 crore in FY23, as per its RoC filing.
The company also saw a significant boost in other income, which surged by 106% to Rs 403 crore, elevating its total income to Rs 5,921 crore from Rs 4,700 crore in the previous fiscal year.
At the same time, the FY 2023-24, Google India completed the demerger of its IT business, following approval from the National Company Law Tribunal (NCLT) on May 25, 2023.
The separation, effective from June 30, 2023, transferred its IT operations to Google IT Services India Pvt Ltd. This structural shift is reflected in Google India’s latest financial statements, as noted in its regulatory filing.
Upon approval of the scheme of arrangement, the IT business undertakings of Google India were transferred to and vested with Google IT Services India Pvt Ltd with effect from April 1, 2021.
“Google India Private Limited, reported its revenues for the financial year 2023-24 as Rs 5,921 crore, a 26 per cent jump since the last financial year. The company further reported a net profit of Rs 1,425 crore during the same fiscal.”
This is a 6 per cent increase from the last financial year. The company’s total expenses for the fiscal were reported as Rs 4,184 crore.
