Net profits of Tencent Holdings Ltd, China's biggest Internet company by market value, hit 5.16 billion yuan ($755.9 million) last year, up 85.2 percent year-on-year, according to the company's annual report on its website Wednesday.

Tencent's revenue totaled 12.44 billion yuan in 2009, a 73.9 percent increase from the previous year. Earnings per share rose 84 percent year-on-year to 2.79 yuan.

Tencent's income from online advertising amounted to 962.2 million, yuan, up 16.5 percent year-on-year. Tencent's other two major business pillars, Internet value-added services and mobile and telecom value-added services contributed 9.53 billion yuan and 1.91 billon yuan to the company's revenue, respectively.

Ma Huateng, CEO of Tencent, gave much credit to the soaring income from online games service for their outstanding performance, said a China Business News report Thursday.

Tencent snatched the first place as an online game network operator in China from the second quarter last year, adding eight new games to make a total of 95 online games, Ma noted.

The giant grabbed 5.39 billion yuan from online game services, up 131.5 percent year-on-year, said the news report, citing Liu Zhiping, president of Tencent.