It is the fastest growth of net profit for Apple in India in the last five years, according to the Economic Times, citing information from Apple’s Registrar of Companies (RoC). Apple’s revenue in India hit nearly Rs 50,000 crore in FY23, with sales increasing 48 per cent to Rs 49,321 crore and net profit rising 76 per cent to Rs 2,229 crore. It is the fastest growth of net profit for Apple in India in the last five years, according to the Economic Times, citing information from Apple’s Registrar of Companies (RoC). According to RoC filings, Apple India generates 94.6 per cent of its revenue from sales of products and 5.4 per cent from maintenance and services. Meanwhile, India saw mobile phones exports worth $5.5 billion (over Rs 45,000 crore) in the April-August period in the ongoing fiscal year (FY24), according to government and industry data.

Source: dna October 30, 2023 17:20 UTC