Tech giant Google India’s gross sales from the sale of advertising space jumped 21.36% to Rs 13,886.7 crore for the fiscal year ended March 31, 2021 from Rs 11,442.3 crore during of the previous fiscal year, according to financial data consulted by the business intelligence platform, Tofler.
During the year under review, the company paid Rs 12,262.2 crore to Google Asia Pacific Pte Ltd. for the purchase of advertising space, against Rs 10,070.2 crore during the previous financial year.
Google is a third-party reseller of advertising space for the Google Adwords program and other Google advertising products and services in India to advertisers seeking to market their products and services to consumers and business users on the Internet. It is also engaged in the provision of Information Technology (IT) and Computer Services (ITES) services to its group companies active in the Internet industry.
Google is the dominant player in the digital advertising market with a presence in all ad formats such as search, display and video. Its YouTube video streaming platform is the nation’s leading AVOD platform, with the lion’s share of the rapidly growing digital video advertising pie. Google’s Android is the dominant mobile operating system in the country.
The company has invested $ 4.5 billion in Reliance’s Jio platforms and has partnered with Reliance Jio to jointly launch an entry-level JioPhone Next smartphone to increase internet penetration in India. He also pledged to invest $ 10 billion in India over the next 5-7 years.
The company reported revenues from the sale of advertising space and corporate products and the associated direct costs of sales on a net basis. The company’s revenue from the net sale of advertising space increased 18.39% to Rs 1,624.5 crore from Rs 1,372.1 crore.
Likewise, gross sales from the sale of corporate products jumped 33% to Rs 606.6 crore from Rs 457.6 crore. The company paid Rs 540 crore to Google Asia Pacific Pte Ltd. for the purchase of services related to business products, against Rs 402.7 crore in the previous fiscal year.
The company’s revenue from the provision of information technology and activated services fell 5.17% to Rs 1,652.7 crore from Rs 1,743.5 crore. Revenues from the provision of information technology services jumped 32% to Rs 2913.3 crore from Rs 2213.1 crore.
Google India’s operating income rose 16.2% to Rs 6,257.1 crore from Rs 5,384.7 crore. The company generated 46.56% of its revenue from IT services, followed by 27.03% from advertising and 26.41% from IT services.
Total income increased 14% to Rs 6,386.2 crore from Rs 5,603.3 crore. Spending rose 19% to Rs 5,297.4 crore from Rs 4,465 crore. Total payroll taxes jumped 54% to Rs 3,230.8 crore from Rs 2,100.6 crore. Advertising promotional spending fell 69% to Rs 132.8 crore from Rs 427.7 crore a year ago.
Net profit rose 38% to Rs 808 crore from Rs 586.2 crore. EBITDA climbed 19% to Rs 1,639.60 crore from Rs 1,378.60 crore.
The company’s trade receivables rose 7.2% to Rs 3,896.8 crore from Rs 3,634.8 crore. He noted that trade receivables do not bear interest and generally have maturities of 0 to 90 days. In March 2021, Rs 134.4 crore against Rs 132.6 crore was recorded as an allowance for bad debts on trade receivables.
Recently, Google India Digital Services, the company that hosts the digital payment platform Google Pay, reported a 2% growth in FY21 revenue to Rs 1467 crore from Rs 1498 crore during the last year. Previous exercice. The company’s net profit jumped 61% to Rs 53 crore from Rs 33 crore.
Google Payment India reported operating income of Rs 14.75 crore for the fiscal year ended March 31, 2021, compared to Rs 4.69 crore for the previous fiscal year. A subsidiary of Google USA, the company is primarily engaged in providing business support services to Google Asia Pacific Pte. Limited (GAP) and Google Ireland Limited (GIL). Its net profit for the year was Rs 1.41 crore, compared to Rs 45.65 lakh.
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