Samsung India FY24 Profit Up 13.7%, Revenue Crosses Rs 1 Lakh Crore

New Delhi, Nov 7 (PTI) Consumer electronic maker Samsung India Electronics' net profit for FY24 increased 13.73 per cent to Rs 8,188.7 crore, while its revenue from operations was marginally up 0.30 per cent to Rs 99,541.6 crore, according to financial data accessed through business intelligence platform Tofler.

It had reported a net profit of Rs 3,450.1 crore and its revenue from operations was at Rs 96,632.4 crore for the financial year that ended on March 31, 2023.

Samsung India's revenue from the domestic market was at Rs 60,817.9 crore and Rs 38,723.7 crore from exports in FY24.

Samsung India's total income, including other income, crossed the Rs 1 lakh-crore-mark at Rs 1,02,628.3 crore for the financial year ended on March 31, 2024. The amount was the highest in the last five years, according to the Tofler data.

Its revenue from hand-held phones -- the segment covering operations relating to mobile phones & accessories -- was flat at Rs 71,157.6 crore.

However, revenue from home appliances business -- which covers its washing machines, air conditioners, refrigerators, and microwave ovens -- was marginally down to Rs 11,350.1 crore as against Rs 11,814.8 crore a year ago.

Samsung India's profit before tax was up 11.4 per cent to Rs 10,982 crore in FY24.

An e-mail to Samsung India Electronic seeking comments regarding the filing remained unanswered by the time of filing of the story.

Revenue from other sources of Samsung India was up 3.42 per cent to Rs 3,086.7 crore.

Total expenses of Samsung India Electronics was at Rs 91,646.3 crore, up marginally in comparison to Rs 93,801.7 crore a year earlier.

Samsung India's advertising promotional expenses were at Rs 3,781.6 crore, marginally up 0.54 per cent. Similarly, its after sales service expenses were up 1.62 per cent to Rs 1,071.7 crore.

Besides, royalty paid to the parent South Korean firm rose 5 per cent to Rs 3,322.4 crore in FY24.

Samsung India Electronics receives its major revenue from the mobile phone business.