Info-tech

Microsoft Corp India revenue up 7% in FY21

Our Bureau Mumbai | Updated on October 20, 2021

The company’s total expenses for the fiscal were at ₹8,658 cr   -  REUTERS

Net profit declines 8% to ₹572 crore

Microsoft Corporation (India) reported a 7 per cent rise in revenues at ₹9,475 crore for the financial year 2020-21. The company reported a net profit of ₹572 crore, an 8 per cent decrease from the last financial year.

The company’s total expenses for the fiscal were at ₹8,658 crore. Turnover increased 6.5 per cent to ₹9,430 crore. The documents submitted by the company to the Ministry of Corporate Affairs were accessed by the business intelligence platform, Tofler, and reviewed by BusinessLine.

Covid impact

Informing stakeholders about the impact of the Covid-19 pandemic, Microsoft said: “Based on the assessment carried out by the management due to outbreak of Covid-19 pandemic, the impact on the future operations, profitability, and liquidity position is not expected to be material.”

The company’s total assets jumped from ₹7,723 crore to ₹9,519 crore for this fiscal. On the other hand, its liabilities, too, increased from ₹5,813.967 crore to ₹6,902.712 crore. According to Tofler’s analysis report, the company’s Return on Equity dropped from 32.72 per cent in FY20 to 21.87 per cent in FY21.

The company had to pay a royalty of ₹5,361.8 crore in FY21 compared to ₹4,992.714 crore in the same time last year.

Strategic investment

Earlier this year, Microsoft finalised a strategic investment for an undisclosed amount in SoftBank-backed Oyo Hotels & Homes, valuing the hospitality company around $9 billion. Microsoft has also been spreading its wings in India by nurturing Indian start-ups. This year, the software company supported 11 Indian start-ups.

Published on October 19, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like