Apple India reports 23% profit increase and 36% revenue growth in FY 2023-24
Published On : 2024-11-21T01:24:02+0530 [ IST ] |
Author : Mayur_Tembhare
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New Delhi: Apple India posted a 23 per cent increase in net profit to Rs 2,745.7 crore in the financial year 2023-24 according to a company's regulatory filing shared by Tofler.
The company also posted a 36 per cent increase in total income to 67,121.6 crore in FY24 from 49,321.8 crore in FY23.
Apple India Private Limited which provides and markets Apple products and software including mobile devices and laptops reported its revenues for the financial year 2023-24 at 67,122 crore a 36 per cent jump from the last financial year.
The company also reported a net profit of Rs 2,746 crore during the same fiscal.
This is a 23 per cent increase from the last financial year. The company's total expenses for the fiscal were reported as 63,397 crore.
According to Counterpoint Research Apple was ranked second after Samsung with 21.6 per cent in terms of value market in the September 2024 quarter.
Apple India has declared and distributed an interim dividend of 9.43 lakh per share on 35,002 fully paid-up equity shares amounting to 3,302 crore.
Apple's net profit margin fell to 4.09 per cent in FY24 from 4.52 per cent in FY23.
iPhone maker's net worth in India also declined by about 15 per cent to Rs 3,083.45 crore during the reported fiscal from Rs 3,643.62 crore in FY23.
The employee expense of Apple grew by about 18 per cent to Rs 2,599.7 crore from Rs 2,198.91 crore in the same period.
During the year under review the company contributed Rs 42.23 crore as a part of its CSR initiative. Ready to Master Stock Valuation?
Source : Reporters From Sunrise Chronicles
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Summary :
New Delhi: Apple India posted a 23 per cent increase in net profit to Rs 2,745.7 crore in the financial year 2023-24 according to a company's regulatory filing shared by Tofler.
The company a
