Samsung India made strong profit in FY2023-24, this much increased to ₹ 8,188.7 crores:

Note Reuters 1730999203

Consumer electronics company Samsung India Electronics’ net profit grew 13.73 percent to Rs 8,188.7 crore in the last financial year 2023-24. During this period, the company’s operating income grew marginally by 0.30 percent to Rs 99,541.6 crore. This information has been received from financial data obtained through the business intelligence platform Tofler. The company had reported a net profit of Rs 3,450.1 crore and its operating income stood at Rs 96,632.4 crore in the financial year ended March 31, 2023. The total expenditure of Samsung India Electronics stood at Rs 91,646.3 crore, as against Rs 93,801.7 crore in the previous year.

Samsung India’s total revenue

According to the news, Samsung India’s revenue from the domestic market in the financial year 2023-24 was Rs 60,817.9 crore, and from exports Rs 38,723.7 crore. Samsung India’s total income including other income crossed the Rs 1 lakh crore mark to Rs 1,02,628.3 crore in the financial year ending March 31, 2024. According to Tofler data, this amount was the highest in the last five years. An email sent to Samsung India Electronics seeking comment on the regulatory information could not be answered till the time of writing the news.

Leading the smartphone market

South Korean electronics company Samsung has been leading the Indian smartphone market in terms of value with a 22.8 percent market share. In the third quarter of 2024, Samsung has slightly taken the gap with iPhone maker Apple. This was stated in a Counterpoint research report. Apple ranked second after Samsung in the Indian smartphone market in terms of value during the July-September quarter. Samsung is currently leading the market in terms of value with a 23 percent share. The brand is prioritizing its flagship Galaxy S series and expanding its value-driven portfolio.

Samsung topped the smartphone segment in terms of volumes with a 20 percent market share in the first phase of festive season sales. Consumers bought more than 1 million iPhones during the festive sale held between September 26 and October 6.