Truecaller's India users up 14% at 236 mn in Q2CY22, country sales up 130%

Average number of monthly active users rose by 15% to 321.4 million worldwide

India continues to be the biggest market for smartphone application company Truecaller, with the monthly active users (MAU) at 235.5 million at the end of its second quarter results (April-June). The MAU is up 14 per cent from 206.4 million user base in the same quarter last year.

According to the firm's Q2 results Truecaller’s daily active users in India was 194.4 million up from 167.3 million in the April-June quarter of 2021.

On an overall basis, compared to Q2CY21, the average number of MAU rose by 42 million, or 15 per cent, to 321.4 million. “We are growing rapidly in many parts of the world and are seeing the strongest MAU trends in India, Malaysia, Nigeria, Egypt, Kenya, South Africa and Colombia. The fastest relative growth is occurring in several South and Latin American countries, as well as in Southeast Asia and Africa including Malaysia, Bangladesh and South Africa,” said Alan Mamedi, CEO, Truecaller.

The company also said that its sales growth in the country for the quarter was up 130 per cent to 378.7 million Swedish Krona (SEK). “There was also a positive impact compared to the previous year from increased ad revenues linked to the annual Indian cricket season (which mainly was split between the second and third quarters in 2021),” said Mamedi in his remarks. India continues to be the largest contributor in terms of revenue at 78.9 per cent.

Mamedi said the Indian ad market is also catching up to the West in terms of the share of digital marketing relative to traditional media, and the digital channel is gaining ground with each passing year, which is a promising opportunity for Truecaller.

He added that though India is the company’s biggest market by far, the firm's 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 represent over a billion people, but where the smartphone penetration currently is low.

Truecaller for Business, which was launched in April 2021, has been gaining traction with India witnessing onboarding of new business customers like Google, DHL, American Express during the quarter along with Discovery Bank and Woolworths in South Africa and Foodpanda and Mudah in Malaysia.