Twitter India posts loss of about Rs 32 crore in FY22
Twitter India, which recently laid off over 160 employees, had posted a profit of Rs 7.76 crore in the financial year 2020-21.
Microblogging platform Twitter's Indian arm recorded a loss of around Rs 32 crore in the financial year which ended on March 31, 2022, according to documents sourced by business intelligence platform Tofler.
Twitter India, which recently laid off over 160 employees, had posted a profit of Rs 7.76 crore in the financial year 2020-21.
The document shows that employee expenses of the company had jumped over three-fold to Rs 136.81 crore during the reported fiscal from Rs 43.25 crore in 2020-21.
ALSO READ | Elon Musk warns Twitter’s survival is at stake as staff quits
Twitter India's revenue, however, jumped by about 82 per cent to Rs 156.75 crore in FY22 from Rs 86.36 crore in the preceding fiscal.
Click Here For Latest Updates On Stock Market | Zee Business Live
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.