Leading caller identification app Truecaller on Tuesday reported an 8 per cent increase in net sales in India in the first quarter (Q1) of the calendar year, saying that the country accounted for 74.2 per cent of the total net sales.

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India continues to remain one of the biggest markets for Truecaller as the region accounted for growth across three revenue streams – Truecaller for Business, Premium subscriptions and Ads, the company said in a statement.

Net sales in India reached 316.8 million Swedish Krona (SEK) in the first quarter (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, “out of which 272.6 million monthly active users are in India alone,” the company informed. The daily active users (DAU) reached 314 million, out of which 234.4 million daily active users are based in India.

Truecaller experienced a significant 5 per cent surge in global ad revenue compared to the first quarter of 2023, largely driven by the increased demand for digital advertising coinciding with the Indian Premier League (IPL).

The company launched its call recording feature in the Indian market, which enables users to record and transcribe all calls, in English and Hindi. The product is now available on Android as well as on iOS in India.