Due to the pandemic, most of the world’s economy has taken a major hit, with many big and small businesses suffering huge losses and often merging with others or going bankrupt. But amidst all the chaos, some industries managed to rake in huge profits ever recorded in their business carriers. Companies involved in search engines, online food services, e-commerce, video conference, content streaming, etc., saw huge gains, which can be accredited to the lockdowns brought forth by the pandemic.
So now, let’s talk about Google. The world leader in the search engine market. According to sources, Google India has had a pretty solid year amidst the pandemic. The company has reported a total income of Rs. 4,147 crore in the year ended March. The company had gained Rs. 472.8 crores in the last fiscal year, but Google India’s net profit for the current fiscal year was Rs. 586.2 crore.
“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.”
According to sources, Google India reported an increase of 30.4 percent to Rs. 4,455.5 crore in its operating costs during FY20 as compared to Rs. 3,416.5 crore in FY19.
“In the FY19-20 financial year, Google India made a pre-tax profit of Rs. 11,383 million, resulting in Rs. Three thousand twenty million corporate taxes payable, and invested almost Rs. 4 billion in our Indian operations. From April 1, 2019, to March 31, 2020, the company made 4 CSR grants, totaling about Rs. 13.34 crore to Non-governmental organizations working to improve the quality of education and safety of children.”
Google is but just one of the company among various others that have turned the pandemic into an opportunity to gain profits and increase their customer base. But one thing is certain that the tech industries will never be the same in the future.
