Meta India reported gross advertising revenues of around $2 billion or ₹16,189 crore for FY22. It is a rise of 74% year-on-year (YoY), according to the company’s filings with the Registrar of Companies (RoC). In FY21, Facebook India Online Services reported gross advertising revenues of ₹9,326 crore, a jump of 41% YoY.
As per RoC data, Meta India reported total profit before tax at ₹440 crore in FY22, growing 116% YoY, while its profit after tax grew 132% YoY to ₹297 crore. Advertising is Meta’s primary source of revenue in India. The company operates on the ad-reseller model in the country.
Meta’s three platforms, WhatsApp, Facebook, and Instagram, are very popular with Indians. According to the IT ministry, WhatsApp had 530 million users in India, Facebook had 410 million users, and Instagram had 210 million users in February 2021. One of its most popular features is Reels, its short video service on Instagram.
Meta’s primary source of income in India is advertising on Instagram and Facebook. Recently, Meta launched a tie-up between WhatsApp and JioMart to deliver groceries. JioMart has over 2 million merchant partners and is part of billionaire Mukesh Ambani’s Reliance Industries Ltd.
Vice President of the Global Business Group of Meta, Nicola Mendelsohn, called the partnership a lighthouse example for the world. One can go to the JioMart catalog, choose the things they want to be delivered and pay for them, all within WhatsApp. She added that it’s the first time they have done that globally.