The company said its total profit attributable to shareholders rose to Rs 2,748.83 crore in the financial year ended March 2022, from Rs 1,917.72 crore the previous year.
Revenue rose about 29% to Rs 6,998.82 crore, according to the filings on Saturday. Zoho Corp Pvt Ltd’s consolidated financials include the performance of foreign subsidiaries as well. A spokesperson declined to confirm the foreign subsidiaries.
On a standalone basis, the unit booked a profit of Rs 2,386 crore on revenue of Rs 5,309.05 crore. The standalone figures are higher by 21% for profit and about 19% for revenue from the prior year.
Finance costs went up fourfold to Rs 10.22 crore, while depreciation and amortisation cost reduced by 27% to Rs 277.29 crore.
The Pleasanton, California and Chennai-headquartered company generates revenue from licensing of software products, consulting, software maintenance and technical support.
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In November, cofounder and chief executive Sridhar Vembu said that the company had crossed $1 billion in annual worldwide revenue, but also expected growth to slow down in 2022.“We can kind of see what this (recession) is. There is at least a painful recession, which central banks across the world are acknowledging. Will it morph into something worse? That is something we do not know,” Vembu had said.
Going forward, the company would cut its spending on marketing to contain costs, while also slowing down on hiring, he had added at the time. Zoho has a presence in more than 150 countries and employs over 11,000 people.
Software-as-a-service companies such as Zoho across different use cases are currently preparing for slower growth in revenue as enterprises re-evaluate software costs to save cash in a bear economy. While Zoho is bootstrapped, the average revenue multiple in the sector has fallen significantly in new funding rounds for firms looking to raise new capital.