WhatsApp: WhatsApp reports India revenue of Rs 6.84 crore for the first time for FY19

New Delhi: One year after launching the WhatsApp Business application for businesses to communicate with their customers, Facebook, owned by WhatsApp, first reported its revenue in India for the 2019 financial year.

Documents submitted to the Registrar of Companies (RoC) show that WhatsApp, which is currently awaiting regulatory approval for its payment service, has reported revenue of Rs 6.84 crore for fiscal year 2019 and a profit of Rs 57 lakh for the financial year concerned.

About a million businesses in India use the Business WhatsApp app to communicate and share information with their customers.

In its financial statements, WhatsApp stated that the company had started its operations and donated revenue to its business process outsourcing services. The company had not reported any revenue for the 2018 financial year and stated that it had incurred expenditure of Rs 5 lakh for the 2018 fiscal year. During the 2019 fiscal year, Anne Hoge Milliken resigned as director of the company in April and the company appointed Ashish Chandra, (GC) India as Additional Manager in September.

The equity and liabilities for the company, which reported that Facebook Inc USA as its final holding company, WhatsApp Inc as its holding company and Facebook India Online Services as its subsidiary, amounted to Rs 5.9 crore. Equity and liabilities included commercial debt securities, such as the total fees owed by micro and small businesses.