Google India reported a 23.9 percent increase in net profit to Rs 586.2 crore for the financial year 2019-2020 as compared to Rs 472.8 crore in the previous fiscal year, according to regulatory filings accessed by business intelligence platform Tofler
. Revenue rose 34.8 percent to about Rs 5,593.8 crore, it said. The company reported total expenses at Rs 4,455.5 crore, a 30.4 percent rise in the period as compared to Rs 3416.5 crore in 2018-2019. It earned a total of 73 percent of its revenues from IT services (41 percent) and IT-enabled Services (32 percent) in India and 27 percent from advertising, according to the disclosure.
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
Google is the dominant player in search and earns a large part of its revenues from advertising globally from the Google search platform. It also has a strong presence in the mobile operating systems market with close to 98 percent reach of its Android OS in India. Google has also made huge inroads into the digital payments space in India with its Google Pay.
In the filing, the Mountain View, California-headquartered firm said it considers social responsibility as an integral part of its business activities and that it endeavours to fully utilize allocable corporate social responsibility budget for the benefit of society in accordance with the statutory requirements.
The average net profits of the company in the last three immediately preceding financial years was Rs 612.47 crore. Accordingly, Rs 12.25 crore was allocated for CSR (Corporate Social Responsibility) activities for the financial year ending March 31, 2020, it said.
Original Source: https://www.firstpost.com/business/google-india-financial-year-2019-2020-revenue-rises-34-8-percent-to-rs-5593-8-crore-9058081.html