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Apple India’s consolidated revenue hits $4 bn mark, jumps 3% in FY22

New Delhi: Owing to the robust demand for its premium devices, Apple India’s consolidated revenue reached an all-time high of $4.03 billion (Rs 33,381 crore) in the financial year 2022, up roughly 45 percent.

According to the company’s filings with the registrar, net profit for FY22 increased 3% to $150 million (Rs 1,263 crore).

India achieved a new all-time revenue record for iPhone sales during the quarter, according to Apple’s chief financial officer, Luca Maestri, who made the announcement along with the company’s financial results.

Overall, including Apple India’s operations, the company’s fourth-quarter revenue of $90.1 billion increased 8% over the prior year, and its yearly revenue of $394.3 billion did the same.

In example, Apple’s iPhone division saw net sales increase 10% year over year to $42.6 billion during the quarter that ended September 24, the company’s fiscal year’s end.

Apple India’s overall expenses were $3.84 billion (Rs 31,693 crore), up roughly 49% from $2.58 billion (Rs 21,297 crore) the previous year, mostly due to an increase in costs and employee benefit spending.

Employee benefit costs for the company, which include basic pay, pensions, gratuities, and other costs related to employees, totaled $0.19 billion (Rs 1,577.8 crore) in FY22, a 35% increase from $0.14 billion (Rs 1,160 crore) in FY21.

 

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