The Silicon Review ^Asia

Google India sees a rise in its revenue by 29 percent to Rs 9,338 crore in financial year 2017-18 according to regulatory documents. Last year, the company generated a revenue of Rs 7, 239.5 crore as mentioned by the market intelligence firm, Tofler. After taxes, the net profit rose to Rs 407 crore against RS 306.6 crore last year.

According to the Registrar of Companies (RoC) filings, almost 70 percent of Google’s revenue was generated from its advertising business. Marketers and advertising experts say that both Google and Facebook are powerful advertising platforms and they compete for digital dominance while catering to the unique business needs. Sam Balsara, Chairman, Madison World, said, “Google and Facebook command close 80% of the entire digital industry. The digital advertising industry in India is growing faster than most countries in the world exhibiting almost 30% growth for the last 5 years. It is at the forefront of digital revolution and adoption.” Its IT and IT-enabled services for the US-based company’s operations contributed to the rest of its revenue. Further, Google will continue its efforts to deliver its cloud and payments services and invest heavily in the highly competitive Indian market.

Google is also developing region-specific products to cater to individual needs of the nation and other markets in the US. It also launched its mobile payments and commerce app called Google Pay, initially named Tez that has more than 25 million active users.