INTRO: Even as the world reeled under the Coronavirus pandemic and the resulting lockdowns and restrictions, some companies managed to turn huge profits nevertheless. As per regulatory filings made by the company, Google India has had a pretty solid year as well. The company reported a total income of Rs. 4,147 crore in the year ended March.
Google India’s net profit for the fiscal year was also considerably higher at Rs. 586.2 crore as compared to Rs. 472.8 crores last fiscal year. In the filing, the company said “The Board is glad to inform you that during the period beginning from April 1, 2019 and ending on March 31, 2020, the company has achieved a turnover (revenue from operations) of Rs. 53,847 million, which is higher than the earlier year of Rs. 39,928 million.”
The company also saw its operating costs increase 30.4 percent to Rs. 4,455.5 crore during FY20 as compared to Rs. 3,416.5 crore in FY19. A Google India spokesperson is quoted as saying “In the FY19-20 financial year, Google India made a pre tax profit of Rs. 11,383 million, resulting in Rs. 3,020 million of corporate taxes payable, and invested almost Rs. 4 billion in our Indian operations.”
In its filings, the company also mentioned the CSR grants it made in FY20. “From April 1, 2019 to March 31, 2020, the company made 4 CSR grants, totalling about Rs. 13.34 crore to Non-governmental organisations working to improve the quality of education and safety of children” said the company in its regulatory filings.