Facebook India full-year profit more than doubles, revenue soars 43%

Social media giant Facebook India’s revenues grew 43 per cent year-on-year to about Rs 1,277.3 crore in 2019-20, while its net profit more than doubled to Rs 135.7 crore, as per regulatory documents.

Its total income was Rs 893.4 crore in the financial year ended March 31, 2019, according to Registrar of Companies filing – shared by market intelligence firm Tofler.

The net profit increased by over 107 per cent to Rs 135.7 crore in FY20 as compared to Rs 65.3 crore in the preceding fiscal, it added.

When contacted, a Facebook spokesperson said India is an important market for the company.

“…we are deeply committed to being an ally in the country’s socio-economic transformation. We will continue to invest in our India operations while working with small and large businesses to help in their economic recovery post the pandemic,” the spokesperson added.