Facebook lite is an app too convinent for people with less memory types of phones.
It provides access to all those things which the original facebook app does.It also lets you chat to your facebook friends via tha app unlike facebook which asks you to install messenger too.
Its good enough but the graphics lag behind.
Obviously less graphical quality n design is the reason for its less size.But if you are a user who dies for high quality designs then its a bad choice to use facebook lite.
Except this its great.Go on using it!