Samsung India's Financial Surge in FY24

Samsung India Electronics reported a 13.73% increase in net profit to Rs 8,188.7 crore for FY24. Revenue grew marginally to Rs 99,541.6 crore. The company's profit before tax rose 11.4% to Rs 10,982 crore. Major earnings stemmed from the mobile phone segment, while home appliances saw a slight dip.

Samsung India Electronics has announced a significant 13.73% rise in net profit for the fiscal year 2024, reaching Rs 8,188.7 crore, according to recent data from Tofler. The consumer electronics giant also reported a slight revenue uptick, posting Rs 99,541.6 crore, marking a modest 0.30% increase from the previous year.

The net profit surge contrasts with last year's Rs 3,450.1 crore, while total income broke records, surpassing Rs 1 lakh crore for the first time in five years. The company's domestic revenue stood at Rs 60,817.9 crore, with Rs 38,723.7 crore generated from exports.

Revenue from Samsung India's mobile phone operations remained stable at Rs 71,157.6 crore, although its home appliances sector saw a minor decrease. Meanwhile, advertising and promotional costs saw a slight rise, and royalty payments to the South Korean parent company climbed by 5% during the period.

(With inputs from agencies.)