Facebook's Meta logo sign is seen at the company headquarters in Menlo Park, California. (Photo | AP) 
Business

Meta surpasses USD 2 billion revenue mark in India

The social network posted a total profit of Rs 440 crore (after tax) in the country, growing at 116 per cent (YoY) in FY22. Profit after tax was Rs 297 crore, growing at 132 per cent.

ANI

NEW DELHI: Meta Platforms, which owns Facebook, WhatsApp and Instagram, surpassed USD 2 billion in revenue in India in FY22, which has become a strategic market for the US company.

The social network posted a total profit of Rs 440 crore (after tax) in the country, growing at 116 per cent (YoY) in FY22. Profit after tax was Rs 297 crore, growing at 132 per cent.

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According to Meta's filings with the Registrar of Companies (RoC), it has registered gross ad revenue growth of 74 per cent (YoY). The growth comes at a time when WhatsApp has seen significant growth in India, nearing 500 million users in the country.

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WhatsApp for Business has also seen a meteoric rise in the country, especially for small businesses.

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