Hyderabad: Meta platforms owned Facebook India, on Thursday said that the company gained Rs 9,326 crore during the financial year 2020-21, which took the gross advertising revenue up by 41%.
The company’s Indian branch saw an increase of 22% in its net revenue, which stood at Rs 1,481 crore during the period. There was a 6% decline in the company’s net profit during April-March, which dipped the company’s year-on-year profit to Rs 128 crore as evident from the company’s filing with the Registrar of Companies (ROC).
Search engine giant, Google revealed its filing with ROC, having a 21.4% year-on-year growth, in revenues through advertisements. Its India branch registered a year-on-year growth of 38% for the financial year 2020-21. Google India amassed Rs 808 crore, while the total income of the company grew by 14% standing at Rs 6,386 crore.
According to a report by the Indian Express, the two tech giants have garnered a gross ad revenue of Rs 23, 213 crores. Speaking of the advertisement revenue, a spokesperson from Meta said, a shift to the digital world due to the pandemic, could be a major reason. He further said, “We are now discovering that many of the changes in consumer behaviour triggered by the pandemic are here to stay and will continue to drive growth for digital advertising platforms, especially as savvy marketers make digital a central part of their strategy.”
The Meta platforms owned company on Thursday announced the launch of safety measures for journalists, women, and government officials. The web portal, StopNCII.org platform to prevent sharing of nonconsensual images. A women’s safety Hub was also launched in Hindi and 11 other regional languages, in order to help more women gain access to information and understand the tools.