Microsoft India Revenue Soars 39% To Rs 19,229 crore By CIOTechOutlook Team

Microsoft India Revenue Soars 39% To Rs 19,229 crore

CIOTechOutlook Team | Friday, 20 October 2023, 02:52 IST

Microsoft Corp. India Pvt. Ltd, the company responsible for sales and marketing of Microsoft products in the country, its operating revenue increased 39% to 19,229 crore in the fiscal year ended 31 March from the previous year. Net profit jumped 30% year on year to 649 crore, while employee benefit costs increased 16.5% year on year to 1,411 crore.

Microsoft’s growth in the country has been largely driven by a rise in revenue from its services offerings, its financial filings through business intelligence platform Tofler showed. Revenue from the sale of services grew 46.4% to ₹13,103 crore, up from ₹8,951 crore a year ago. Revenue from products, including Microsoft’s Surface line of consumer and enterprise laptops and desktops, grew 28% to ₹4,508 crore from ₹3,519 crore a year ago, as per livemint.

The company's total development in India is being driven by increased demand for its cloud platform Azure and generative artificial intelligence (AI) services for companies. According to industry stakeholders, Microsoft controls around one-fifth of India's cloud services market with its Azure platform and services, trailing market leader Amazon Web Services (AWS).

Microsoft Azure has a 20.8% market share for cloud service providers in India at the end of last year, according to business intelligence platform Course5i.

In comparison, Amazon Web Services held 32.6% of the market in India, while Google Cloud Platform was third with 11.4%. Microsoft's standing as a cloud service provider has grown globally as well.