Microsoft Corporation India’s total income jumped 18 per cent to ₹22,892 crore in FY24, although the company’s sales from products dropped by 14 per cent, as per company’s regulatory filings accessed via Tofler.

The tech major further reported a net profit of ₹898 crore during the same fiscal — a 38 per cent jump compared to the previous year.

Microsoft India’s revenue from the sale of products went down from ₹4,508 crore in FY23 to ₹3,854 crore in FY24.

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In December 2023, the company increased prices for its software products and online services by 6 percent. This marked the third consecutive year of price hikes in India.

Meanwhile, revenue from services increased by 26 percent, rising from ₹13,103 crore in FY23 to ₹16,530 crore in FY24. Similarly, revenue from operations grew by 17 percent, from ₹19,229 crore in FY23 to ₹22,561 crore in FY24.

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Barring earnings, the company’s total expenses for FY24 stood at ₹21,669 crore but advertising and promotional expenses reduced by 13 per cent to ₹320 crore.

The Indian market remains an important market for the company in terms of the AI ecosystem. In November, Mustafa Suleyman, Microsoft AI CEO, said India was one of Copilot’s fastest-growing markets, adding that the country hosted one of Microsoft’s strongest research and development teams globally.