SUMMARY
Truecaller’s daily active users (DAUs) in India rose to 194.4 Mn in the June quarter from 167.3 Mn in the same quarter of previous year
Net sales in India grew 130% to Swedish Krona (SEK) 378.7 Mn
Although India is our biggest market by far, our product is global: Truecaller CEO
Swedish caller identification app Truecaller saw a 15% year-on-year (YoY) growth in its global monthly active users (MAUs) at 321.4 Mn in the April-June quarter. India continued to remain Truecaller’s biggest market, seeing a 14% YoY growth in MAUs during the quarter to 235.5 Mn.
Truecaller’s daily active users (DAUs) in India rose to 194.4 Mn in the June quarter from 167.3 Mn in the same quarter of last year, it said after announcing the financial results for the quarter. The company’s global DAUs stood at 255.4 Mn in the June quarter.
“Although India is our biggest market by far, our product is global. Some of the other countries in which a large share of all smartphone users also use Truecaller are Egypt, Jordan, Israel, Lebanon, Algeria, Colombia and Ghana, and we are rapidly approaching a similar position in other markets that collectively represents over a billion people, but where the smartphone penetration currently is low,” Truecaller CEO Alan Mamedi said.
The company’s net sales in India grew 130% to Swedish Krona (SEK) 378.7 Mn, while that in the Middle East and Africa rose 38% to SEK 55.9 Mn. Net sales in the rest of the world increased 31% to SEK 45.8 Mn. Overall, it reported a net sales of SEK 480.4 Mn and SEK172.7 Mn profit after sales. ($1 = SEK 10.27)
In a statement, Truecaller attributed the increase in revenue to strong growth in advertising revenues. Currency effects, increased advertising revenues connected to the Indian cricket season (IPL) and the negative effects of the Covid pandemic on revenues in Q2 2021 also contributed to the strong increase during the quarter in terms of percentage, it said.
While India remains its largest market, Mamedi earlier said that the company is willing to fully comply with data privacy regulation once implemented. He said that the company does not see the regulation as a challenge and the move is positive for the country.
Mamedi also added that Truecaller will continue to see the high growth trajectory in India, despite the strict privacy and consent clauses of data protection law.
