Facebook India Online Services, the Indian subsidiary of social media platform Facebook Inc, posted a 48.4% jump in its net profit at R31 crore in FY16, according to the company’s filing with the Registrar of Companies (ROC). During the period, revenues increased 30.5% to R177 crore.
Reached for comments, Facebook India did not comment on its earnings.
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During the period, advertising spend increased 84% to R16.9 crore. Wage bill increased by 26% at R40 crore. Facebook currently has166 million monthly active users in India, of which around 159 million access it on their mobile phones. Around 85 million are active users.
Facebook’s Indian subsidiary was incorporated on May 7, 2010.