Google India PAT rises 6% to Rs 1,425 crore in FY24

Google India recorded a profit after tax (PAT) of Rs 1,424.9 crore for the 2023-24 financial year, compared to a PAT of Rs 1,342.5 crore a year ago in FY23, as per the documents shared by Tofler on Friday.

The technology giant reported a total income of Rs 7,097.5 crore for the fiscal year, which includes Rs 5,921.1 crore from continuing operations and Rs 1,176.4 crore from discontinued operations.

The report by Tofler read that Google India Private Limited’s revenues for the financial year 2023-24 saw a 26 per cent jump since the last FY standing at Rs 5,921 crore, 26 per cent jump since the last financial year.

The company also made a net profit of Rs 1,425 crore during the same fiscal, reflecting 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.

Google India filed an application with the National Company Law Tribunal (NCLT), back in 2020-2021, regarding the demerger of its IT business, which was intended to be transferred to 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 stated in its regulatory filing.

The IT business undertakings of Google India were transferred to and vested in Google IT Services India Pvt Ltd, effective April 1, 2021, after the scheme of arrangement received approval.
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