Facebook India Reports 43% Profit Surge, Driven by Digital Advertising
New Delhi: Facebook India has recorded a remarkable 43% increase in profit for the fiscal year 2024 (FY24), fueled by a strong performance in digital advertising and support services provided to its parent company, Meta, in the United States. The company’s net profit reached ₹505 crore, reflecting a substantial growth in its operational revenue, which climbed by 9.3% to ₹3,034.8 crore, up from ₹2,775.7 crore in FY23, according to data from the Registrar of Companies (RoC).
The overall expenses for Facebook India increased by 2.4% to ₹2,349.6 crore, with employee benefit expenses rising to ₹476.1 crore, marking a 7.8% rise from the previous fiscal year. Meanwhile, “other expenses” remained stable at ₹1,435.3 crore. Notably, depreciation and amortization costs saw a decline of 10.8%, dropping to ₹271.3 crore from ₹304.2 crore in FY23.
In contrast, Facebook’s parent company, Meta, faced challenges with weaker-than-expected user growth and cautioned about a significant rise in infrastructure expenses in 2025. In its third-quarter earnings report, Meta announced revenue of $40.59 billion, a 19% increase year-on-year, with net income growing by 35% to $15.7 billion, up from $11.6 billion a year earlier. The company reported 3.29 billion daily active users for the third quarter, reflecting a 5% year-on-year increase.
Meta’s CEO, Mark Zuckerberg, highlighted the company’s positive quarter, attributing it to advancements in AI across its applications and businesses. He emphasized the ongoing investments in AI infrastructure, stating, “We also have strong momentum with Meta AI, Llama adoption, and AI-powered glasses,” and noted the need for substantial investment in infrastructure as AI capabilities expand.
Looking ahead, Meta has revised its capital expenditure guidance for the 2024 fiscal year to between $38 billion and $40 billion, up from previous estimates, with expectations of continued growth in capital expenditures in 2025 due to heightened infrastructure demands.
