Facebook’s FY21 ad revenue up 41% at Rs 9,326 crore
The net revenue grew 22 per cent to Rs 1,481 crore Meta Platforms Inc-owned Facebook India has reported a 41 per cent year-on-year increase in gross advertising revenue at Rs 9,326 crore for financial year 2020-21, according to media reports. The net revenue grew 22 per cent to Rs 1,481 crore during the period. Its net profit for the fiscal (April-March), however, declined 6 per cent year-on-year (y-o-y) to Rs 128 crore, said reports quoting regulatory filings by the company with the Registrar of Companies (RoC). The company ended up paying a Rs 518 crore equalisation levy to government on the gross ad revenue, reports said.
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