Google India Pvt Ltd (Google India) reported revenues of Rs 3,050.69 crore (around $507.35 million at applicable exchange rates) for the 12 month period ended March 31, 2014 (FY14), up a substantial 47% from 2,076.79 crore ($345.38 million) from the previous financial year (FY13), according to a recent filing with India’s Registrar of Companies. Revenue for the company increased by Rs 973.9 crore (around $161.97 million), as compared to an increase of Rs 914.6 crore last fiscal. Profit declined Rs 7.96 crore ($1.32 million). Domestic Advertising Revenue not disclosed This year, the company disclosed only one segment of revenues: IT Services, as opposed to IT Services, IT Enables Services and Domestic Advertising Revenue last year. Thus, it's not clear what percentage of Google India's FY14 revenues were from Domestic Advertising, but in FY13, Domestic Advertising was 57.75% (Rs 1096.2 crore) of total revenues. Assuming the same percentage for FY13, given the apparent increase in advertising spends in India, Domestic Advertising could be around Rs 1,761 crore ($292 million). Frankly, how the Economic Times estimated that Google India is going to reach $1 billion (Around Rs 6,013 crores) in revenues in FY15 is beyond me. That would mean almost 6x growth in advertising over a two year period, at a fairly large scale. Transactions with Google Ireland In 2012, 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. At present, Income tax paid under protest, as of March 31, 2014, was Rs 310.78 crore. As…
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