Apple’s FY24 India Sales Jump 33% to $8 Billion, Higher Than 90% of BSE500 Companies’ Revenue

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Apple's iPhones accounted for more than half of the total $8 billion sales of the company.

Apple’s iPhones accounted for more than half of the total $8 billion sales of the company.

Apple’s sales in FY24 have surpassed the revenues of 90 per cent of BSE500 companies including Hindustan Unilever, Tata Power, Tech Mahindra and Petronet LNG.

Apple’s India sales jumped 33 per cent to a record of almost $8 billion in the financial year 2023-24. It has surpassed the revenues of 90 per cent of BSE500 companies including Hindustan Unilever, Tata Power, Tech Mahindra and Petronet LNG, according to CNBC-TV18.

Apple’s iPhones accounted for more than half of the total $8 billion sales, according to a Bloomberg report. In April, Bloomberg News reported that Apple has assembled $14 billion worth of iPhones in India last fiscal year, and makes as much as 14% of its marquee devices from India.

According to the CNBC-TV18 report, only 48 of the BSE500 companies had revenues of more than $8 billion in FY24.

While Tata Power and HUL reported revenues of $7.4 billion each for the 12-month period ending March 2024, Petronet LNG had a revenue of $6.4 billion during the year.

Most iPhones made in India are produced at the Sriperumbudur plant, about 25 miles west of Tamil Nadu’s state capital Chennai.

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experi…Read More

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