Microsoft's FY20 revenue grows 62% in India to 625 rupees, regardless of spending up almost 19%
Microsoft India saw annual profit increased 62 percent and annual revenue increased 22 percent for fiscal year 2019-20 compared to the previous fiscal year. Net income increased from Rs.386 billion in FY19 to Rs.625 billion in FY20, while Microsoft Corporation India Pvt Ltd's revenue increased from Rs.7,301 billion to Rs.8,883 billion over the same period. This is evident from the financial data accessed by the Tofler business intelligence platform. The total costs increased however in the fiscal year by 18.9 percent to 7,967 billion rupees (previous year: 6,699 billion rupees).
"We have nothing to share," Microsoft India responded to a request from Financial Express Online to comment on fiscal year performance.
Income for Fiscal Year 18 and Fiscal Year 17 was Rs.357.9 billion and Rs.469 billion, respectively. On the other hand, spending increased from Rs 5,646 billion in FY17 and Rs 5,802 billion in FY18. Expenses for fiscal 20 included Rs. 833 billion for employee benefits, Rs. 67.4 billion for finance charges, Rs 973.3 billion for write-offs and Rs.693 billion for other expenses.
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Microsoft recently allowed its employees to work from home with a flexible work schedule, some of them forever. Microsoft Executive Vice President and Chief People Officer Kathleen Hogan said in a blog post, "For most roles, we consider working from home (less than 50%) the standard." As a result, employees in roles and companies better suited to work outside of the office can work from home or anywhere other than the office for up to 50 percent of their work week.
Hogan had added that in relation to working hours, i.e. the hours and days that employees work, e.g. B. Start and end times of the working day, full or part time, the flexibility of the work schedule for most roles is now considered the standard. However, part-time work would be subject to manager approval. According to Statista, Microsoft has around 163,000 full-time employees worldwide.
In the midst of Covid, the US parent company reported a net profit of 11.2 billion US dollars for the fourth quarter ending June 30, 2020 thanks to Microsoft Cloud. On the other hand, sales totaled 38 billion US dollars – an increase of 13 percent over the corresponding period of the previous fiscal year. “The last five months have made it clear that technical intensity is the key to business resilience. Companies that build their own digital skills will recover faster and emerge stronger from this crisis, ”said Satya Nadella, Microsoft's chief executive officer, in a statement in July.
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