Google India reports Rs 5,518 crore revenue in FY24, profit jumps to Rs 1,425 crore

Sundar Pichai-led tech giant Google's India arm, Google India, recorded significant revenue growth in the fiscal year 2023-24, reaching Rs 5,518 crore from operations, marking a 22.5% increase compared to Rs 4,504 crore in FY23.

Including other income streams, the total income for the year stood at Rs 5,921 crore, up from Rs 4,700 crore in the previous fiscal year.

Profit increase amid rising expenses

The company's profit after tax (PAT) for FY24 was Rs 1,424 crore, a 6% rise from the Rs 1,342 crore reported in FY23. While this increase reflects steady profitability, the growth was modest compared to the revenue increase.

Total expenses for FY24 amounted to Rs 4,184 crore, a 16% rise from Rs 3,609 crore in the prior year, driven by higher employee costs and operational expenditures.

Diversified revenue streams

Google India’s revenue is driven by three main streams: advertising, IT-enabled services, and enterprise products. The net sales from advertising, which form a substantial part of Google’s income, rose 27% to Rs 2,954 crore.

Revenue from IT-enabled services climbed 16% to Rs 2,389 crore, while enterprise product sales saw the highest jump at 57%, moving from Rs 111 crore in FY23 to Rs 174 crore in FY24.