Apple India posts $8 Bn revenue and $330 Mn profit in FY24

Apple India reported a 23% increase in net profit to Rs 2,746 crore for FY24, with total revenue rising to Rs 67,152 crore, marking a 36% growth from the previous year. The company’s expenses for the fiscal year were Rs 63,397 crore. This significant growth is attributed to the strong performance of its iPhone, Mac, and services segments. Apple India also expanded its retail presence by opening new stores in Pune, Bengaluru, Delhi-NCR, and Mumbai, and increased its manufacturing footprint in India, including the production of the iPhone 16 series. The company transferred Rs 3,302 crore in dividends to its Ireland-based holding company, Apple Operations International, more than double the previous year’s amount. This financial performance underscores Apple’s growing market influence and strategic investments in India123.