TikTok owner ByteDance posts ₹3.4 crore FY19 profit in India

One of the world's most valuable startup ByteDance, which owns lip-syncing video platform TikTok, has clocked in a profit of about ₹3.4 crore for FY19 for its India entity. The fiscal marked its first full year of operations in India. ByteDance India posted revenue of ₹43.62 crore, about 5% of which (about ₹2.16 crore) it earned from advertising sales.