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Google India revenue declines 56% due to change in accounting standards

Revenue from advertising fell to 28 per cent from 69 per cent a year ago. Profit rose 16 per cent to Rs 473 crore during FY19 from Rs 406 crore a year ago

Google India, Google

Google India, the arm of the technology giant operating in the country, reported a 56 per cent fall in revenue in the year ended March 31, 2019. The fall was attributed to a new accounting standard, according to regulatory filings sourced from business intelligence firm Tofler. Revenue from advertising fell to 28 per cent from 69 per cent a year ago. Profit rose 16 per cent to Rs 473 crore during FY19 from Rs 406 crore a year ago. The changes have happened because of changes in accounting standards from IND AS 18 to IND AS 115, according to the filing. IND AS 115 came ...