Google India posts Rs 5,518 Cr revenue in FY24; profits stands at Rs 1,424 Cr

Google India has continued its growth journey in the last fiscal year as the firm’s operating income grew 26% and crossed the Rs 5,500 crore revenue mark in FY24. However, Google India’s profit after tax increased only 6% to Rs 1,424 crore in the fiscal year ending March 2024.

Google India’s revenue from operations increased to Rs 5,518 crore in FY24 from Rs 4,504 crore in FY23, its financial statement sourced from the Registrar of Companies (RoC) shows.

Meanwhile, the company’s other income rose to Rs 403 crore, a 106% spike over Rs 195 crore in FY23. This brought Google India’s total income for FY24 to Rs 5,921 crore from Rs 4,700 crore in FY23.

Google India generates revenue from three key streams: advertising, IT-enabled services, and enterprise products. Revenue from IT-enabled services increased by 16% to Rs 2,389 crore in FY24. The net sale of advertising space, a significant portion of Google India’s revenue, jumped 27% to Rs 2,954 crore.

Revenue from enterprise products grew 57% to Rs 174 crore in FY24 from Rs 111 crore in FY23. This diversified revenue base underscores Google India's dominant position in digital advertising, while also highlighting its expansion into enterprise and IT services.

Employee benefit expenses grew by 10% to Rs 1989 crore, while finance costs showed a minor increase of 6.4%, reaching Rs 142 crore. Depreciation and amortization costs declined slightly by 11.6% to Rs 277 crore from Rs 314 crore the prior year, reflecting efficient asset utilization. Other expenses, which include administrative and operational costs, saw a significant 31% increase to Rs 1774 crore. 

Total expenses for Google India in FY24 stood at Rs 4,184.4 crore, reflecting a 16% increase from Rs 3,609.4 crore in FY23.

Google posted a profit of  Rs 1424 crore in FY24, marking a 6% increase from Rs 1342 crore in FY23.

Google faces competition from social media and e-commerce platforms like Meta (Facebook and Instagram), Amazon, and regional advertising players. Despite competition, Google maintains a robust market presence by leveraging its brand and extensive product ecosystem, including search, YouTube, and Google Ads, which continue to drive significant user engagement and revenue.