Mumbai: Google India's profit after tax (PAT) in fiscal year 2023-24 stood at Rs 1,424.9 crore, according to documents released by Tofler on Friday.
This indicates an increase from the Rs 1,342.5 crore PAT recorded in FY23.
The company's total income for the fiscal year was Rs 7,097.5 crore, comprising Rs 5,921.1 crore from continuing operations and Rs 1,176.4 crore from discontinued operations, PTI reported citing the documents.
Google India had earlier applied to the National Company Law Tribunal (NCLT) in 2020-21 to demerge its IT business into Google IT Services India Pvt Ltd.
The NCLT approved this scheme of arrangement on May 25, 2023, and it took effect in the financial statements from June 30, 2023.
As a result, Google India’s IT business was transferred to Google IT Services India Pvt Ltd retroactively from April 1, 2021.
As per the Tofler report, “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, 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.”
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