Digital advertisement firm Xapads Media expects its revenue to rise by 60 per cent to Rs 120 crore in the next fiscal on account of increase in penetration of smartphones.
"The company generated a revenue of Rs 75 crore in the last financial year and aims to reach Rs 120 crore by next financial year," Xapads Media Founder and CEO Nitin Gupta told PTI.
He said that the digital advertising industry in India is growing at a rapid pace and is expected to reach Rs 23,795 crore by 2020 from 6,825 crores currently.
"The main reason of this growth is due the digital revolution and consumers inclination towards the use of smartphones and Internet. Advertisers have been able to reach the untapped markets and we see a growth into this with sectors like e-commerce, telecom, BFSI, media and entertainment and consumer durable companies contributing more in this area," Gupta said.