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Google India has three revenue segments: resale of advertisement space, sale of enterprise products, and providing IT and IT-enabled services to its group companies.
Google India’s FY23 operating revenue decreased by 0.11% to Rs 9275 crore from Rs 9286 crore in FY22. The company has demerged its IT services business to an independent entity, Google IT Services India.The National Company Law Tribunal approved the transfer of Google India’s IT business to Google IT Services India in May last year. According to sources, the move was designed to help Google India focus on its main business divisions of advertising and enterprise.
The appointed date for the transfer of Google India’s IT services business to Google IT Services India was April 1, 2021.
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The filings show that Google India paid an equalisation levy of Rs 1543 crore to Google Asia Pacific for purchasing online advertisement space.The Indian entity buys ad inventory from Google Asia Pacific and resells it to advertisers in the country. In FY22, it had paid Rs 22,845 crore to Google Asia Pacific for the purchase of ad inventory.
Google’s main competitor, Facebook Online India Services, the India arm of social media giant Meta, had recorded a 13% growth in gross ad revenue at Rs 18,308 crore for FY23 compared to Rs 16,189 crore in FY22.
According to a report by IPG Mediabrands-owned media investment firm Magna Global, the overall ad spend in India stood at Rs 1,09,882 crore in 2023, up 11.8% compared to 2022, with digital ad spending growing by 14.2% to top Rs 49,883 crore.
YouTube, with 573 million users, is a significant contributor to Google India’s gross ad revenue, according to industry sources.
In an earlier interaction with ET, TAM Media CEO LV Krishnan said YouTube, with its reach and share of usage, has attracted maximum audiences and ad spends in the digital ad market.
