Meta’s India revenue increased 16% to Rs 1,485 crore in FY 21

Meta’s India revenue increased 16% to Rs 1,485 crore in FY 21

Meta’s (formerly Facebook) total revenue in India grew 16 percent year-on-year to around 1,485 crore in 2020-21, while its net profit fell 6 percent to 128 crore rupees, according to regulatory documents. .

Its gross advertising revenue saw a 41 percent jump to Rs 9,326 crore for the fiscal year ending March 2021, a filing with the Registrar of Companies showed.

Meta’s total revenue in India stood at around Rs 1,277 crore, while its net profit was rupees 136 crore in FY2020. When contacted, a Meta spokesperson said that India’s dramatic change towards digital continues.

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“During the pandemic, we have seen a greater shift to digital, not only in consumers adopting digital tools for their daily needs, but also in a deep engagement with businesses and brands online.”

“As the country grappled with a prolonged period of lockdown, companies, large and small, relied on digital as a means to connect with their customers,” the spokesperson said.

The spokesperson further stated: “We are now finding that many of the changes in consumer behavior brought on by the pandemic are here to stay and will continue to drive the growth of digital advertising platforms, especially as marketers make the digital technology a central part of their strategy. ” .

(Edited by : Jomy if it’s bottled)

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