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 .
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.
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.