Truecaller on Tuesday reported an 8% year-on-year (y-o-y) increase in sales from India operations to SEK 316.8 million (around Rs 244 crore) in the January-March quarter.
The company’s growth was led by increased number of users, increased engagement per user, new ad formats, Truecaller for Business and ad income from the Indian Premier League (IPL)-season.
India continues to remain one of the biggest markets for Truecaller as the region accounted for 74.2% of the total net sales of Truecaller. Of its total monthly active user base of 383.4 million, 272.6 million monthly active users are in India alone.
During the quarter, Truecaller added 23.3 million monthly active users in India. The daily active users were 234.4 million in India during the quarter.
“While overall ad demand remains subdued, the timing of events like the Indian Premier League (IPL) cricket tournament, which began in the first quarter of 2024 as opposed to 2023, also contributed positively to this quarter’s performance,” said Alan Mamedi, CEO and co-founder of Truecaller.
Mamedi, however, said the income from the full IPL season will be significantly lower in 2024 compared to 2023, with revenue evenly distributed between Q1 and Q2 (April-June).
During the quarter, Truecaller launched its Call Recording feature in the country, which enables users to record and transcribe all calls, in English and Hindi.
Globally, the company sales rose 10% y-o-y to SEK 427.2 million (nearly Rs 330 crore) in the January-March quarter. Net Profit rose 22% to SEK 133 million (Rs 103 crore).