In the financial year ending March 2023, Apple India experienced a remarkable surge in revenue, marking a 48 percent year-on-year increase, as disclosed by business intelligence firm Tofler. The company's total revenue for FY'2023 reached an impressive Rs 49,322 crore, a substantial rise from the previous fiscal year, where it reported revenue of Rs 33,381 crore in FY'2022.
The boost in revenue was accompanied by a notable rise in profitability for Apple India. Profits for FY'2023 witnessed a significant upswing of approximately 77 percent, reaching Rs 2,230 crore, compared to Rs 1,263 crore in FY'2022.
Tofler's report also revealed that the company's total expenses for the fiscal year reached Rs 46,444 crore. This represents a substantial increase in expenditure compared to the previous fiscal year when expenses were reported at about Rs 31,693 crore in FY'2022.
These financial results signify Apple India's impressive growth and financial strength in the Indian market during the mentioned fiscal year. The company's ability to significantly increase both revenue and profits indicates a strong and thriving presence in the region, showcasing its continued success and expansion in India's competitive tech market.