The company’s net profit also grew 132% YoY to INR 297 Cr during the fiscal year that ended in March 2022.
Posting record numbers, Facebook India Online Services reported gross advertisement revenues of INR 16,189 Cr in the financial year 2021-22 (FY22), up 74% year-on-year (YoY) from INR 9,326 Cr in FY21.
The company’s net profit also grew 132% YoY to INR 297 Cr during the fiscal year that ended in March 2022. In comparison with FY20 when its net profit stood at INR 136 Cr, the company’s net profit surged 118% showing the growing adoption of online ad services by companies and startups alike.
In total, Facebook India Online Services paid an equalization levy of INR 907 Cr to the government on gross ad revenues in FY22. As per regulatory filings, Meta India’s total income in FY22 stood at INR 2,324 Cr. A breakdown of the data revealed that the net advertiser reseller revenue hovered around INR 889 Cr, the cost of IT-ITES services stood at INR 1,420 Cr, while income from other sources was pegged at INR 15 Cr.
Overall, the cost of ad inventory for Meta India was pegged at around INR 15,120 Cr. It is this ad space that Facebook India purchases from Meta Platforms Inc USA, and then subsequently, sells to its Indian customers with certain markup.
