Google India's Financial Resurgence: Breaking Down the 2023-24 Surge

Google India reported a profit after tax of Rs 1,424.9 crore in the 2023-24 fiscal year, up from Rs 1,342.5 crore in the previous year. The company's total income was Rs 7,097.5 crore, with significant contributions from continuing operations and a demerger scheme approved by NCLT in 2023.

Google India has reported a notable financial achievement for the fiscal year 2023-24, as documents shared by Tofler reveal a profit after tax of Rs 1,424.9 crore. This marks a significant increase from Rs 1,342.5 crore in the previous financial year.

The company declared a total income of Rs 7,097.5 crore, which included Rs 5,921.1 crore from ongoing operations and Rs 1,176.4 crore from those that have been discontinued. The fiscal year also saw the approval of a demerger by the National Company Law Tribunal (NCLT), impacting the financial statements.

In a regulatory filing, Google explained that the scheme of arrangement, effective from April 1, 2021, involved transferring IT business units to Google IT Services India Pvt Ltd. This restructuring, combined with cost control, has boosted Google India's revenue by 26 percent, with expenses reported at Rs 4,184 crore.

(With inputs from agencies.)