Google India Sees 26 Per Cent Jump In Revenue In FY24, Digital Advertising Booms

Its revenue from operations soared 22.5 per cent to touch Rs 5,518.1 crore in FY24, against Rs 4,504.7 crore clocked in the preceding year

The company said that this rise was driven by a robust growth seen in digital advertising in India as digital adoption climbed in the country

Source : Google

Google India reported a 26 per cent increase in its revenue for the financial year ended March 2024 (FY24) at Rs 5,921.1 crore, in comparison to the tech major’s revenue of Rs 4,700 crore logged in the preceding fiscal year (FY23).

The company said that this rise was driven by a robust growth seen in digital advertising in India as digital adoption climbed in the country, reported Moneycontrol. Further, an increase in the sales of the firm’s enterprise products in India helped add to the revenue as well.

However, the tech giant revealed that the revenue data didn’t include the company’s income from discontinued operations of Rs 1,176 crore during the fiscal under review. The discontinued operations of the company included the results of Google’s IT business, which was transferred to Google IT Services India Private Limited last year on June 30. 

Its revenue from operations soared 22.5 per cent to touch Rs 5,518.1 crore in FY24, against Rs 4,504.7 crore clocked in the preceding year.

The firm clocked a net profit of Rs 1,424.9 crore in the period under review, climbing 6 per cent from Rs 1,342.5 crore logged in the year-ago period.

The gross advertising revenue of the firm climbed to Rs 31,221 crore in FY24, up by 11.3 per cent against Rs 28,040 crore reported a year earlier. Meanwhile, the net advertising sales stood at Rs 2,734.4 crore in comparison to Rs 2,323.1 crore on a year-on-year (YoY) basis.

Gross sales from enterprise products surged 35 per cent to Rs 1,551.9 crore in the fiscal under review, against Rs 1,152.5 crore logged in the earlier fiscal year. The net sales increased 40 per cent to touch Rs 155.4 crore in FY24, in comparison to Rs 111.2 crore seen a year earlier. This included sales from the company’s cloud computing, collaboration, and productivity tools such as Gmail, Google Docs, etc.