Zoho India unit profit rises 55% to Rs 800.9 cr

Zoho India unit profit rises 55% to Rs 800.9 cr
Photo Credit: Thinkstock
23 Feb, 2021

The Indian unit of global business software provider Zoho Corporation reported a 55.2% increase in yearly consolidated profit, as per latest financials.

The company said its total profit attributable to shareholders rose to Rs 800.90 crore, in the financial year ended March 2020, from Rs 515.59 crore, a year earlier.

Total revenue rose about 29% to Rs 4,386 crore. The company's consolidated financial account for foreign subsidiaries in Mexico, Japan, and Beijing.

On a standalone basis, it booked profits of Rs 746 crore in the reported period, on total revenues of Rs 2,477.61 crore. Year-over-year, the standalone figure is a 90% jump up for profit, and 36% jump up for revenue.

The Pleasanton and Chennai based company generates its revenues from licensing of software products, consulting, software maintenance and technical support. 

Watch: Zoho exec Ramprakash Ramamoorthy on how AI pervades business software

In terms of the company’s expenses book, top cost heads in an ascending order were legal costs, miscellaneous costs, employee costs, and advertising promotional costs.

Legal professional charges grew 82% to Rs 129.16 crore. Miscellaneous expenses grew 35% to Rs 226 crore. Employee benefit expenses grew by 17% to Rs 1,088.94 crore. And, advertising promotional expenses grew 7.3% to Rs 1,204.89 crore.

In the reported period, Zoho had filed a lawsuit in a US court against San Mateo, California based software firm Freshworks and its two founders, Shan Krishnasamy and Girish Mathrubootham, for trade secret violations.

Comment(s)