Snap Camera India, the local arm of US-based Snap Inc., has crossed the ₹100-crore revenue mark for the first time since its launch in India.
According to financials sourced from Tofler, Snap Camera India’s revenue grew by 28% to ₹101 crore in FY24, up from ₹79 crore in the previous fiscal. Net profit rose 25% to nearly ₹10 crore, compared to ₹8 crore in FY23, while expenses increased by 28% to ₹88 crore.
The company primarily earns through advertising, with a smaller portion from Snapchat+, its subscription service, which has over 14 million global subscribers. Snapchat+ accounted for 9% of Snap’s global revenue in Q4 2024.
Snapchat is among India’s fastest-growing social media platforms, boasting over 200 million users, primarily youth. While the app has been available since 2012, the company formally launched its India operations in Q3 2019 with a redesigned Android experience.
The platform saw rapid growth, reaching 100 million monthly active users (MAUs) in Q2 2021 and surpassing 200 million in Q1 2023. North, East, and West India house 155 million users, while 45 million reside in the South.
Snapchat reports that 48% of its Indian users are aged 18-24, with females making up 40% of the user base, spending twice as much time on the app as males.
The company is also investing in India’s creator economy through Spotlight, its user-generated content platform.
