Truecaller Reports Growth In Net Sales Of 8% In Q2FY23

Truecaller has reported growth in net sales of 8 per cent combined with an adjusted EBITDA margin of 46 per cent in the second quarter of 2023.

Q2 2023 impact on the Indian market is net sales in India increased by 9 per cent, reaching over Rs 32 crore in the second quarter, compared to Rs 30.5 crore in the corresponding quarter of the previous year.

The average number of active users (MAU) increased by 34.2 million to approximately 355.6 million monthly active users, out of which 255.4 million monthly active users are in India alone. The global growth in daily active users is the highest since the end of 2020 and continues to accelerate at a strong pace.

India continues to remain one of the biggest markets for Truecaller, and the growth in the region is at a record high. The region accounted for 79.6 per cent of the total net sales of Truecaller, owing to all three revenue streams – Truecaller for Business, Premium subscriptions and Ads

Revenue from Truecaller for Business (TfB) grew by 75 per cent to Rs 33 crore. The demand for these services is still very high in India, and the number of connected customers continues to show good growth in the country.

Truecaller witnessed exponential growth in ad revenue during the quarter, primarily due to the demand for digital advertising during India's largest sporting event, the Indian Premier League (IPL) in cricket.

Truecaller, being an advertising platform, was well-suited for Indian advertisers to reach a large audience quickly, as it was used by 216 million people in India daily, with an average of 30 times a day.

Just before the end of Q2, Truecaller Assistant was launched in the Indian market in English and Hindi. The integration of Hindi marked a milestone, being the first time an additional language was incorporated into the product. The product is now available across India on the Android platform.