Apple India net profit up 23% to Rs 2,746 cr in FY24

New Delhi: iPhone maker 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.

Apple India had posted a net profit of Rs 2,229.6 crore in FY23.

The company posted a 36 per cent rise in total income to Rs 67,121.6 crore in FY24 from Rs 49,321.8 crore in FY23.

"Apple India Private Limited (which) provides and markets Apple brand products and software, including mobile devices and laptops, reported its revenues for the financial year 2023-24 as Rs 67,122 crore, a 36 per cent jump since the last financial year," Tofler said.

The company further 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 Rs 63,397 crore," it added.

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 declared and distributed an interim dividend of Rs 9.43 lakh per share on 35,002 fully paid-up equity shares amounting to Rs 3,302 crore, Tofler said.

Apple's net profit margin declined to 4.09 per cent in FY24 from 4.52 per cent in FY23.