Alphabet’s Profits More Than Doubled In The March Quarter
Alphabet’s profits more than doubled in the March quarter due to an increase in digital advertising: Google’s parent company.
Google’s parent company Alphabet released its results for the first quarter (January-March) of 2021 on Tuesday. Alphabet reported more than double profits in the March quarter.
Digital advertising has increased as more people depend on the Internet due to the corona virus epidemic. This is why Alphabet made a bumper profit in the March quarter.
Alphabet’s first quarter profit was $ 17.9 billion, a strong increase compared to $ 6.8 billion in the year-ago period. At the same time, the company’s revenue grew by 34 percent to $ 55.3 billion.
Alphabet’s Profits: The company’s revenue increased due to an increase in advertising and cloud computing services.
Alphabet and Google CEO Sundar Pichai said, “Over the past year, more and more people have gone to Google search and other online services to stay informed.”
Significantly, since last year, almost the whole world, including India, is suffering from the corona virus epidemic. The third and fourth wave of this epidemic has also occurred in many countries.
The second wave of Corona epidemic is going on in India at the moment.
Full and partial lockdowns have been installed at many locations worldwide to prevent the spread of corona virus infection.
People are handling their work from home instead of office. Online classes of students are going on.
Due to these reasons, people are spending more time on the Internet. Whether it is an office meeting, online class or exchange of information, the internet is very useful in this challenging time.
This is why companies like Alphabet are benefiting from this situation.
12.7 lakh investors of PACL got back the amount, the committee constituted by SEBI returned 438 crore rupees to the investors.
Capital market regulator Sebi said on Tuesday that more than 12.7 lakh investors of PACL have got their money back.
According to the regulator, the investors who claimed up to Rs 10,000, have been returned to them after verification. A total of Rs 438 crore has been paid under this head.
SEBI had found in its investigation that PACL Ltd had raised more than Rs 60,000 crore from investors in the name of agriculture and real estate business.
The company raised this amount through the Illicit Collective Investment Scheme (CIS) in 18 years.
