Tech giant Google saw its India revenues grow 29 per cent to about Rs 9,338 crore in 2017-18 over the previous financial year, as per regulatory documents. Google India’s total revenue was at Rs 9,337.7 crore during 2017-18 as against Rs 7,239.5 crore in 2016-17, according to Registrar of Companies filing shared by market intelligence firm Tofler. The net profit was higher by about 33 per cent at Rs 407.2 crore last fiscal as compared to Rs 306.6 crore in the previous year.
Google India’s total expenses rose nearly 29 per cent to Rs 8,710.9 crore from Rs 6,760.4 crore in 2016-17 as the company continues to invest heavily in the fiercely competitive Indian market where it offers services like cloud and payments.
According to the filing, advertising revenue contributed about 69 per cent of the company’s turnover, while the share of IT-enabled services stood at 18 per cent and that of IT services was at 13 per cent. During 2017-18, Google India made 10 CSR grants, totalling about Rs 20.3 crore to NGOs working to improve the quality of education, and for safety of children.
Besides, the NGOs used CSR grants to experiment with new technologies to enhance their work, and to create innovative new products to make work and teaching more accessible, it said.
Source: Financial Express