Google India Records 79.4% Increase In Advertising Sales In 2022
Google India has recorded an increase of 79.4% in its advertising sales in India in the fiscal year 2022.
Google provides advertising space and allows users to run online advertisements through programs such as Google Ads and other platforms.
In the 2022 fiscal year ending March, Google India witnessed a jump of 79.4% in advertising sales as compared to the previous year.
The tech giant generated revenue of Rs 24,926.5 crore from advertising, according to Google's latest regulatory filing, reported The Economic Times.
The company paid Rs 22,845 crore to Google Singapore Pte to buy the advertising inventory. Besides this, it gave Rs 1,370.7 crore to local tax authorities as an equalization levy, the report added.
In the financial year 2021-22, Google India recorded a turnover of Rs 9,286 crore (net revenue from operations) and Rs 1,238.9 crore net profit. According to its revenue generation policy, Google India reports net sales (gross sales minus purchase price) by selling advertising space, enterprise products, and other direct sales costs.
The company shared in its filing with the Ministry of Corporate Affairs that it generated revenue of Rs 2,137 crore by providing information technology (IT) and IT-enabled (ITeS) services to Google Ireland and earned Rs 4,978.5 crore from service rendered to Google LLC.
While the net sales from advertising stood at Rs 2,080.9 crore, the sales of enterprise products such as Google Docs and Gmail brought in Rs 88.8 crore for the tech giant, according to the report.
Advertising programs such as Google Ads help create online advertisements that can be used to promote business, raise awareness, sell products or services, and increase traffic to your website. It lets the user manage the online ad and make changes to it through the Google Ads account.
