Software/Hardware

Microsoft India reports increase in software revenue by 50%

Glarepost
06 January 2017 - 02:05 AM
Software/Hardware
All seems well at Microsoft. The company’s revenue in India from its flagship software products business has shot up by 50% last year. That is not all. The overall revenue grew by 100%, spurred on by the launch of its mobile devices business which was acquired from Nokia.
As per filings with the Registrar of Companies (RoC), Microsoft India’s individual turnover increased to $912 million (Rs. 6,201 crore) in 2015-17, a sharp rise from $457 million (Rs. 3.111 crore) in the previous year. What this effectively means is that if the revenue grows even by just a mere 10% this year, it will still manage to touch $ 1 billion. The company’s net profit and cash on books more than doubled to $ 40 million and $199 million respectively.
Apparently, the man singularly responsible for the turnaround in Microsoft’s fortunes is Satya Nadella, the Indian born CEO of the software giant, by focussing on cloud offerings such as Office 365 and Azure. Nadella is also increasingly focussing on how artificial intelligence can change the game for businesses to automatically update routine tasks across industries. 
Microsoft India Chairman Bhaskar Pramanik said 52 of the top 100 Indian companies listed in the BSE today use the Microsoft Cloud Adopters, which include HDFC, Bank of Baroda, Axis Bank, Kotak Mahindra Bank, Fortis Healthcare, Apollo Hospitals, and Narayana Health. Pramanik also said that the leading e-commerce companies like Paytm, Just Dial and SnapDeal are using its machine learning technologies and digital assistant Cortana.