Google India sales jump 44% to Rs 7,208.9 crore in FY17

The Indian unit of Google crossed the billion-dollar sales milestone in fiscal 2017, a year when the search engine’s local business grew at half the pace of the prior year.
 
But its rival Facebook nearly doubled its revenues in the country indicating increasing preference by marketers to advertise on other social media platform beyond Google.
 
Google India Pvt Ltd, posted a turnover of Rs 7,208.9 crore ($1.11 billion at current exchange rate) in the year through March 2017, a 22% jump from the previous year’s Rs 5,904 crore. Sales had expanded 44% in fiscal 2016.
 
The US technology giant has several Internet-related services and products such as cloud computing and other software, but bulk of the revenue is driven by the advertising service that displays ads next to search results.
 
While Google enjoys a certain monopoly with most marketers spending more than two-thirds of their digital budget on it, the Indian unit’s turnover is still just over 1% of the parent's revenue. The company did not disclose profit numbers in its annual return filed with the Registrar of Companies on Thursday.
 
In fiscal 2017, Facebook posted a 93% increase in India turnover to Rs 341.8 crore, even as net profit rose nearly 31% to Rs 40.6 crore from Rs 31 crore.
Shoot