New Delhi: Truecaller Reports Strong Growth in India, Driven by Diverse Revenue Streams
Truecaller, the leading caller identification app, announced an 8% increase in net sales in India during the first quarter (Q1) of the calendar year, with the country contributing 74.2% of the total net sales. According to a statement released by the company, India remains one of Truecaller’s largest markets, demonstrating growth across three revenue streams: Truecaller for Business, Premium subscriptions, and Ads.
Net sales in India reached 316.8 million Swedish Krona (SEK) in Q1 FY24, compared to SEK 292.2 million in the corresponding quarter of the previous year. Globally, the average number of active users (MAU) increased by 39 million to approximately 383.4 million, with India alone accounting for 272.6 million monthly active users.
The daily active users (DAU) reached 314 million, with 234.4 million DAUs based in India. Truecaller also experienced a notable 5% surge in global ad revenue compared to the first quarter of 2023, driven largely by increased demand for digital advertising, coinciding with events like the Indian Premier League (IPL).
Additionally, Truecaller introduced its call recording feature to the Indian market, enabling users to record and transcribe all calls in both English and Hindi. This feature is now available on both Android and iOS platforms in India, catering to the diverse needs of users in the country.
