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Social media major Meta’s advertisement unit, Facebook India Online Services, has posted a 43% growth in profit to Rs 504.9 crore in the financial year ended on March 31, 2024, according to documents shared by Tofler. The company had posted a profit of Rs 352.91 crore in FY2023.
Facebook India Online Services Private Limited is engaged in the business of selling advertising inventory to customers in India and providing IT-enabled support services and design support services to Meta Platforms Inc.
The company reported a 9.33% increase in turnover to Rs 3,034.82 crore in FY24 against Rs 2,775.78 crore in FY23.
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“The company’s total expenses for the fiscal were reported as Rs 2,350 crore,” Tofler said in a report.
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