Apple’s revenue in India grew 29% YOY, net profit more than three-fold — report

From Inc24’s “Apple India’s Profit In FY20 Grow 267% To INR 926 Cr” posted Monday:

Tech giant Apple recorded revenue of INR 13,756 Cr in India the fiscal year 2020 (FY20), a 29% year-on-year (YoY) jump from revenue of INR 10,674 Cr for FY19.

Business intelligence platform Tofler also mentioned that Apple’s net profit for FY20 stood at INR 926.2 crore in FY20 in India, a 267% growth from INR 262.27 Cr in the preceding fiscal.

The growth in revenue is testimony to Apple’s continued bid to ramp up its presence in India, where a growing middle-income population consisting of 500 Mn smartphone users, is a market for some of the world’s leading internet tech companies.

My take: Happy to pass on this tidbit, spotted by FOB Bart Yee. But since Apple doesn’t report net profit by country, I have to wonder how Tofler or anyone else would know.

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