LinkedIn India FY24 profit falls to ₹172 crore
LinkedIn Technology Information, the India arm of Microsoft Corporation-owned LinkedIn, has reported a 1.7% decrease in net profit to ₹172 crore for the fiscal year ending March 31, 2024, according to the company's financial details accessed by Tofler.
The company recorded a total revenue of ₹1,869 crore, slightly lower than the previous year's ₹1,873 crore, reflecting a 0.21% decrease. Operating expenses rose marginally to ₹1,643 crore, up from ₹1,633 crore, indicating a 0.61% increase.
LinkedIn India's marketing services contributed significantly to the revenue, accounting for 54.06% of the total turnover. Contract research and development services and customer support services complemented the revenue streams, contributing 41.43% and 4.51%, respectively.
In its annual report, LinkedIn Technology Information stated that it performs routine marketing functions within the framework of the overall sales and marketing strategy defined by its holding company, LinkedIn Ireland.
The marketing support team of LinkedIn India is responsible for providing local territorial information, performing market research, corporate marketing and public relation activities, maintaining a competent and fully trained sales force, and managing customer relationships with existing and prospective customers in India.
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