Google India's FY24 PAT stood at Rs 1,424.9 cr
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 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.”
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
ISRO seeks proposals from Indian scientists to study, analyse archival data related to past Venus missions
Been a minute: Virat Kohli, Anushka Sharma's heart-warming picture is leaving internet buzzing
Been a minute: Virat Kohli, Anushka Sharma's heart-warming picture is leaving internet buzzing
India launches Integrated State and City Logistics Plans to boost efficiency