Meta India FY24 gross ad revenue grows 24%; reaches Rs 22,730 crore

Facebook India, a critical driver of Meta’s ad revenue in Asia, delivered impressive results for FY24, with profits climbing 43% to reach Rs 504.9 crore. Operational revenue saw a steady 9.3% increase, reaching Rs 3,034.8 crore. This solid growth, primarily fueled by ad sales and IT support for Meta’s global operations, underlines the platform’s ongoing popularity among Indian advertisers and its significant role in connecting brands with millions of users across the country.

The gross advertising revenue saw a 24% increase YoY to Rs 22,730.7 crore for the year. India’s digital ad market has grown exponentially, and Facebook, along with platforms like Instagram, remains a preferred choice for Indian advertisers, with India being the largest market for Meta products. As the market becomes more competitive, Meta’s ability to leverage Facebook and Instagram’s vast reach enables brands to connect with diverse audiences, from urban millennials to consumers in smaller cities and towns. With a digital-first culture expanding rapidly, Meta's platforms have become integral to advertisers’ strategies for effective and scalable outreach.

Looking ahead, Facebook India’s sustained growth suggests it will continue to lead the market. With an eye on future opportunities, Meta may roll out impactful initiatives that align with Indian user interests, potentially focusing on areas like sustainability, digital literacy, and local business support. These moves could further enhance its appeal to both users and advertisers, reinforcing its commitment to India’s digital ecosystem.

A key highlight of Facebook India’s success is its careful expense management, with costs rising by only 2.4% year-over-year. Strategic optimizations, including a notable 11% reduction in depreciation costs, helped keep profitability high while maintaining competitive ad offerings. Investment in employee benefits, which grew by 7.8%, also reflects Meta’s focus on fostering local expertise and talent to strengthen its foothold in India’s dynamic market.

As Meta adapts to India’s evolving regulatory landscape, its continued investment and strategic growth are encouraging signs for the advertising sector. The company’s performance not only highlights the potential for digital growth in India but also reaffirms its position as a vital platform for brands looking to engage the country’s digitally savvy audience.