During the financial year 2023-24, Twitter Communications India’s profit and earnings have seen a huge decline. The company’s profit fell by 90% to just Rs 3 crore. Whereas in 2022-23, the company had a profit of Rs 30 crore. According to regulatory filings, the company’s earnings were recorded at just Rs 21 crore in the last financial year. This is 90% less than the profit of Rs 208 crore made by the company in the previous financial year 2022-23.
India has around 2.5 crore Twitter (now X) users. India is a major contributor to its earnings. Globally, X earned Rs 6,255 crore from advertising during the first half of 2024. This is 24% less than the same period of 2023. Elon Musk bought Twitter on 28 October 2022 for $44 billion (Rs 3.36 lakh crore) and rebranded it as X.