Microsoft Corporation India Pvt Ltd. reported a 62 per cent increase in the annual profit of Rs 625 crore, as compared to annual profit of Rs 386 crore in FY19. While, revenues during the period increased 22 per cent to Rs 8,883 crore against Rs 7,301 crore in the corresponding period, according to the Tofler.
The company’s total expenses rose up to 18.9 per cent for the fiscal year to Rs 7,967 crore from Rs 6,699 crore in the previous fiscal. On the other hand, Microsoft India’s expenses have increased from Rs 5,646 crore in FY17, Rs 5,802 crore in FY18, whereas profits declined from Rs 469 crore in FY17 to Rs 357.9 crore in FY18.
In FY20, its expenses includes Rs 833 crore towards employee benefits, Rs 67.4 crore as finance costs, Rs 973.3 crore towards depreciation and amortisation and Rs 6,093 crore for other expenses. Recently, the company has also allowed its employees to partly work from home forever with a flexible work schedule.
Kathleen Hogan, Microsoft’s Executive Vice President and Chief People Officer, in a blog post said, “for most roles, we view working from home part of the time (less than 50%) as now standard.” He said employees in roles and businesses are better suited for working away from office and would be able to work up to 50 per cent of their working week either from home or anywhere.