Google India posted a net profit of INR 1,238.9 Cr in FY22 against INR 808 Cr in FY21
The company had a net worth of INR 6,309 Cr - a 24.20% YoY increase
Its employee benefits expenses rose to INR 4.988.1 Cr - a 54.4% YoY rise from INR 3.230.8 C
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Tech giant Google’s Indian subsidiary, Google India, saw its gross advertisement revenues grow 79.4% year-on-year (YoY) to about INR 24,926.5 Cr, in the financial year ending March 2022.
Its net advertisement revenue (gross ad revenue minus purchase of ad space) was INR 2,080 Cr while rendering IT and ITes services fetched a revenue of INR 7.116.3 Cr and the sale of enterprise products contributed INR 88.8 Cr in FY22.
According to its regulatory filings, Google India’s total revenue from operations was INR 9,286 Cr – a 45.41% YoY increase from INR 6,386 Cr in FY21.
Its expenses amounted to INR 7,755.2 Cr, a 46.4% increase from INR 5,297.4 Cr in FY21 and its employee benefits expenses constituted a major part of it. The expenses on employees rose by 54.4% YoY to INR 4.988.1 Cr in FY22 from INR 3.230.8 Cr in FY21.
The net profit of the US-based giant also rose by 53.45% from INR 808 Cr in FY21 to INR 1,238.9 Cr in FY22. Its EBITDA was INR 2,361.30 Cr – a 44% jump from INR 1,639.60 Cr in FY21.
Google India had a net worth of INR 6,309 Cr – a 24.20% YoY increase from INR 5,080.2 Cr in FY21.
Google India is engaged in the rendering of IT and IT-enabled services to its group companies engaged in the internet industry.
Google India is also a third-party reseller of the advertising space of the Google Adwords programme and other advertising products and services.
Besides ad revenue, Google India also makes money by providing IT and IT-enabled services to its group of companies globally. While the nature of these services provided is undisclosed, Google India posted a revenue of INR 2,137.8 Cr from Google Ireland and INR 4,978.5 Cr from Google LLC.
The Indian subsidiary of the tech giant has been profitable for the past decade, with net profit margins rising steadily from 4% to the current 11%.
Its adversary within India’s advertising industry, Meta, has also posted a 74% YoY increase in gross advertisement revenues from INR 9,326 Cr in FY21 to INR 16,189 Cr in FY22.
Both Google and Meta account for more than 70% of the total $11 Bn worth of ad market within the country. Google generates a bulk of its revenue from its search engine whereas Meta’s Facebook and Instagram are its largest source of ad revenue.
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