Software-as-a-Service (SaaS) firm Zoho Corporation reported a consolidated net profit of Rs 2,700 crore in FY22, up nearly 43 percent year-on-year on the back of a rise in revenue from its enterprise IT management software business.
The firm’s revenue from operations was up 28 percent to Rs 6,711 crore in FY22 from Rs 5,230 crore in FY21, as per Zoho’s filings with the Registrar of Companies (RoC) on January 28.
The company’s total expenses went up by 18 percent to Rs 3,572 crore with employee benefit expenses amounting to around 51 percent of the total expenses. Employee benefit expenses were recorded at Rs 1,827 crore in FY22.
In FY22, North America continued to yield the highest revenue of Rs 3,198 crore, followed by Europe at Rs 1,505 crore.
Zoho crossed the $1 billion revenue mark in 2021 with India business growing 77 percent on a year-over-year basis, a top company official said.
Zoho Corp Co-founder and CEO Sridhar Vembu said while the scale of US and Europe contribution to the company's overall business is higher, India business is growing very fast and it could be the largest market for the company in 10 years.
The company has business in over 150 countries and has built a user base of over 80 million in the last 25 years of operations.
It provides operating system software for businesses, software for customer relationship management, human resource management, enterprise collaboration platform and GST-compliant accounting software.
The company recently announced that it plans to open 100 network PoPs (points of presence) around the world in the next five years to provide users with a faster network, and also to double investment in technologies such as blockchain and artificial intelligence.
