Facebook Group's India rev crosses $1 billion mark in FY21 aided by digital AdEx growth
These are not official figures as the company is yet to file its FY21 annual report
“Last year saw an inflection point in consumers not just moving online, but also deeply engaging with businesses and brands online… Recognising this, savvy marketers are shifting their spends online and this is driving growth in digital advertising in India,” Mohan has been quoted as saying.
As reported earlier, Facebook India Online Services, the India arm of social media giant Facebook, had more than doubled its net profit to Rs 136 crore for the fiscal ended 31st March 2020 compared to Rs 65.31 crore in the previous fiscal. The company's EBITDA stood at Rs 417.86 crore in FY20.
Facebook had seen a 43% increase in revenue at Rs 1,277 crore compared to Rs 893 crore in FY19. Net advertising revenue had almost doubled to Rs 520.4 crore from Rs 263.9 crore. Revenue from IT-enabled business process outsourcing service to group companies stood at Rs 695.1 crore as against Rs 628.5 crore.
The gross amount billed by Facebook to advertisers in FY20 stood at Rs 6612.6 crore compared to Rs 2253.7 crore. The cost of advertising inventory jumped stood at Rs 6067.9 crore from Rs 1969.9 crore. The company acts as a reseller of advertising services to Indian customers and provides sales support and marketing services to the Facebook group.
Facebook reports revenues from advertising sales net of associated direct cost of sales. The revenues consist primarily of advertising revenues generated by displaying ad products on Facebook, Instagram, Messenger, and third-party affiliated websites or mobile applications.
Facebook's total expenses had jumped 34% to Rs 1045.67 crore from 779.75 crore. Employee benefits expense had increased by 63.3% to Rs 299.3 crore in FY20 from Rs 183.2 crore. It had paid an equalisation levy of Rs 369.5 crore in FY20 as against a payment of Rs 118.2 crore in the previous fiscal.
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