Google India Reports Rs 5,518 Cr Revenue in FY24, Profits Climb to Rs 1,424 Cr
- ByStartupStory | November 4, 2024
Google India has sustained strong growth in the fiscal year 2024, posting a 26% increase in operating income, which brought its total revenue to Rs 5,518 crore. Despite stiff competition from social media giants and regional players, Google India’s profit after tax rose by 6%, reaching Rs 1,424 crore as of March 2024.
According to its financial statement filed with the Registrar of Companies (RoC), Google India’s revenue in FY24 saw a significant climb from Rs 4,504 crore in FY23. Its overall income, which includes other sources, rose sharply to Rs 5,921 crore, up from Rs 4,700 crore the previous fiscal year. A notable component of this growth is attributed to “other income,” which doubled from Rs 195 crore in FY23 to Rs 403 crore.
Key Revenue Streams and Growth Segments
Google India’s revenue is primarily generated from advertising, IT-enabled services, and enterprise products. Each of these areas demonstrated growth:
Advertising Sales: The most significant revenue contributor, saw a 27% increase, totaling Rs 2,954 crore.
IT-Enabled Services: Revenue from this sector rose by 16%, amounting to Rs 2,389 crore.
Enterprise Products: Reflecting Google India’s diversification, revenue from enterprise solutions jumped by 57% to Rs 174 crore.
These figures highlight Google’s leading role in India’s digital advertising landscape and its strategic expansion in IT services and enterprise products, positioning the company as a multifaceted player in India’s digital economy.
Expense Overview and Profit Margins
Google India’s total expenses increased by 16% in FY24 to Rs 4,184.4 crore, up from Rs 3,609.4 crore the previous year. Employee benefit expenses grew by 10% to Rs 1,989 crore, and finance costs saw a modest rise of 6.4%, totaling Rs 142 crore. Depreciation and amortization costs declined slightly by 11.6% to Rs 277 crore, indicating efficiency gains in asset utilization.
Administrative and operational costs, grouped under “other expenses,” surged by 31%, amounting to Rs 1,774 crore. These costs reflect Google India’s ongoing investments in talent and infrastructure to maintain its leadership position in the highly competitive digital sector.
Google’s Market Position Amid Rising Competition
Google India continues to face competition from social media platforms such as Meta (Facebook and Instagram) and e-commerce leaders like Amazon. However, Google leverages its extensive ecosystem, including search, YouTube, and Google Ads, to engage users and drive revenue growth, ensuring a resilient market presence despite challenges.
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