Google India Pvt Ltd (Google India) has reported revenues of Rs 2076.79 crore (around $331.77 million at current rates) for the 12 month period ended 31st March 2013 (FY13), up a substantial 78.7% from 1162.19 crore (around $185.66 million) from the previous financial year (FY12), according to a recent filing with India’s Registrar of Companies. Revenue for the company increased by Rs 914.6 crore ($146.11 million), as compared to a revenue growth of Rs 310.21 crore ($49.55 million) the previous financial year. The company reported a Profit after tax of Rs 137.4 crore ($21.95 million), down 9.7% from Rs 150.73 crore ($27.08 million) the previous fiscal.
Domestic Advertising Revenue Up 4X
As per the revenue split provided by Google India, Domestic Advertising accounted for 57.75% of its revenue, at around Rs 1096.2 crore (around $175.12 million), up 4 times from Rs 268.27 crore ($42.85 million; 25% of revenue) reported for FY12.
Last year, India’s Income Tax Department had reportedly imposed a penalty on Google India for misleading the department with deflating income, and crediting income to Google Ireland. Perhaps that has led to an increase in ad revenue being accounted in India this fiscal, as well as an increase in foreign exchange out-go. Foreign Exchange outgo increased substantially to Rs 932.71 crore, from Rs 20.33 crore the previous fiscal. The company had foreign exchange earnings of Rs 853.09 crore for FY13, up from Rs 797.51 crore the previous fiscal.
In its filing, Google India has accounted for three types of services: IT Services, IT Enables Services and Domestic Advertising Revenue. IT Services revenues declined 6.72% to Rs 431.19 crore, while IT Enabled Services revenues increased 24.2% to Rs 421.89 crore.
Google India’s revenues most likely do no include revenues accrued through purchase of applications via Google’s Android Play Store, which use an international payment gateway for transactions. More context here.
Google India’s Profit before tax was at Rs 207.85 crore, down 9.39% from 229.38 crore the previous fiscal. Profit available for appropriation was Rs 717.3 crore, up from Rs 577.99 crore the previous fiscal.
About Google India Private Limited
Directors on the board of the company are Hari Raju Mahadevu, Lloyd Martin, Katherine Stephens, James Marocco and Fiona Mary. It lists Rajan Anandan as its VP, India Sales and Operations.
99.99% stake in Google India Pvt Ltd is held by Google International. 1 share is held by Google Inc, identified as “the ultimate holding company.”