Google India Reports 6% Growth In Profit, Reaches Rs 1,425 Cr In FY24

Google India has reported a 6 per cent increase in profit after tax (PAT) for the financial year 2023-24, reaching Rs 1,424.9 crore, according to data shared by business intelligence platform Tofler. This marks a rise from the previous fiscal year’s PAT of Rs 1,342.5 crore.

The company's total income for FY24 was Rs 7,097.5 crore, comprising Rs 5,921.1 crore from ongoing operations and an additional Rs 1,176.4 crore from discontinued operations. The income from continuing operations showed a robust 26 per cent increase over the previous year, reflecting strong growth in Google India's business activities.

In FY21, Google India initiated a demerger of its IT business undertaking, proposing to transfer it to Google IT Services India. The National Company Law Tribunal (NCLT) approved this arrangement on May 25, 2023, and the scheme was incorporated into Google India’s financial statements from June 30, 2023, with the transfer effective retroactively from April 1, 2021.

For FY24, Google India reported total expenses of Rs 4,184 crore. The company’s financial performance highlights its steady growth trajectory in India, bolstered by its expanding operations and restructuring efforts within the region.