In FY24, Google India Reported INR 5,518 Cr in Revenue

Nitin Konde, Varun Bhardwaj

Nov 5, 2024 — 3 min read

Google India FY24 Financials

With a 26% increase in operating income and a revenue of over INR 5,500 crore in FY24, Google India has maintained its growth trajectory in the most recent fiscal year. However, in the fiscal year that ended in March 2024, Google India's earnings after tax climbed by just 6% to INR 1,424 crore.

According to its financial statement obtained from the Registrar of Companies (RoC), Google India's operating revenue climbed from INR 4,504 crore in FY23 to INR 5,518 crore in FY24.

In the meantime, the company's other revenue increased by 106% to INR 403 crore from INR 195 crore in FY23. As a result, Google India's overall revenue for FY24 increased from INR 4,700 crore to INR 5,921 crore.

The Revenue Model of Google India

Three main sources of income for Google India are enterprise products, IT-enabled services, and advertising. FY24 saw a 16% growth in revenue from IT-enabled services, reaching INR 2,389 crore. A sizeable amount of Google India's revenue, the net sale of advertising space, increased 27% to INR 2,954 crore. Enterprise product revenue increased from INR 111 crore in FY23 to INR 174 crore in FY24, a 57% increase. This varied revenue stream highlights Google India's growth into enterprise and IT services as well as its leading position in digital advertising.

Finance expenditures increased slightly by 6.4% to INR 142 crore, while employee benefit expenses increased by 10% to Rs 1989 crore. As a result of effective asset use, depreciation and amortisation expenses decreased marginally by 11.6% to Rs 277 crore from Rs 314 crore the previous year. At INR 1774 crore, other expenses—which include operational and administrative costs—saw a notable 31% increase. In FY24, Google India's total expenses were INR 4,184.4 crore, up 16% from INR 3,609.4 crore in FY23.

Google’s Counterparts Giving a Tough Fight

Social media and e-commerce sites like Amazon, Meta (Facebook and Instagram), and local advertising companies compete with Google. By utilising its brand and wide range of products, including as search, YouTube, and Google Ads, which continue to generate substantial user engagement and income, Google sustains a strong market presence in spite of severe competition.

Facebook India Revenue in 2024

According to data released by Tofler, a market research firm, Facebook India Online Services, the advertising division of social media giant Meta, reported a 43% increase in profit to INR 504.9 crore for the fiscal year that concluded on March 31, 2024. In FY2023, the company reported a profit of INR 352.91 crore.

The activities of Facebook India Online Services Private Limited include selling advertising inventory to clients in India and offering Meta Platforms Inc. design and IT-enabled support services. In FY24, the company's turnover increased by 9.33% to INR 3,034.82 crore from INR 2,775.78 crore in FY23. According to a report by Tofler, "the company's total expenses for the fiscal were reported as INR 2,350 crore."