Facebook India’s FY20 profit, revenue growth rates fall from previous year; expenses up 42%

Social networking website Facebook’s India business, which is operated by Facebook India Online Services Private Limited, has reported a 29 per cent increase in net profit and 43 per cent jump in revenues for the financial year (FY) ended March 31, 2020, from the preceding FY. While FY20 profit stood at Rs 136 crore up from Rs 105 crore in FY19, the revenues increased from Rs 892 crore to Rs 1,277 crore during the said period, according to the regulatory documents sourced from business intelligence platform Tofler. However, the profit and revenue growth rates declined from 84 per cent and 71 per cent respectively in FY19 from FY18. Facebook India had reported Rs 57 crore in profit and Rs 521 in revenues in FY18. The FY20 expenses for the social media giant, which has India as its biggest market, also shot up 42 per cent to Rs 1,046 crore from Rs 736 crore in FY19.