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Twitter India records around Rs 32 crore loss in FY22

The Indian arm of the microblogging platform had posted a profit of Rs 7.76 crore in the previous financial year

Microblogging platform Twitter's Indian arm has recorded a loss of around Rs 32 crore in the financial year which ended on March 31, 2022.

As per the documents sourced by business intelligence platform Tofler, it is in sharp contrast to the profit it had recorded in the earlier FY.

Twitter India had posted a profit of Rs 7.76 crore in the financial year 2020-21.

It should be noted that Twitter India had recently laid off over 160 employees, amid the global layoffs announced by the platform post the takeover by Tesla CEO Elon Musk.

The documents accessed by Tofler show that employee expenses of the Twitter India had jumped over three-fold to Rs 136.81 crore during the reported fiscal from Rs 43.25 crore in 2020-21.

Twitter India's revenue, however, jumped by about 82% to Rs 156.75 crore in FY22 from Rs 86.36 crore in the preceding fiscal.

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