New Delhi:
Google India has posted a profit after tax (PAT) of Rs 1,424.9 crore in the 2023-24 financial year, according to documents shared by Tofler on Friday.
The company had posted a PAT of Rs 1,342.5 crore in FY23.
Google India posted a total income of Rs 7,097.5 crore during the reported fiscal year, including Rs 5,921.1 crore from continuing operations, and Rs 1,176.4 crore from discontinued operations.
During 2020-2021, Google India had filed an application with the National Company Law Tribunal (NCLT) for demerger of the IT business undertaking of the company with Google IT Services India Pvt Ltd.
“During FY 2023-2024, the scheme of arrangement was approved by the NCLT vide order dated May 25, 2023 and scheme was given effect from 30th June 2023 in the financial statements,” Google said in the regulatory filing.
Upon approval of the scheme of arrangement, the IT business undertakings of Google India were transferred to and vested with Google IT Services India Pvt Ltd with effect from April 1, 2021.
“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. This is 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,” the Tofler report said.
