Samsung India: Doubling Profits Amid Diverse Revenue Streams

Samsung India Electronics reported a two-fold increase in net profit for FY24, reaching Rs 8,188.7 crore, with a 3% rise in revenue. Despite a slight decline in home appliance sales, revenue from hand-held phones rose. The company saw its total income surpass Rs 1 lakh crore.

Samsung India Electronics has reported a remarkable two-fold increase in net profit for the financial year 2024, reaching Rs 8,188.7 crore, financial data from Tofler reveals. The company's revenue from operations also grew by 3% to Rs 99,541.6 crore.

The company's domestic market revenue was recorded at Rs 60,817.9 crore with exports contributing Rs 38,723.7 crore. Total income, inclusive of other revenue streams, surpassed the Rs 1 lakh crore mark, the highest in five years.

Despite a slight decline in home appliance revenue, hand-held phone operations saw a 1.37% increase. However, Samsung India's significant marketing expenses and royalties to its South Korean parent also saw an uptick.

(With inputs from agencies.)