Latest News | Samsung India Electronics Profit Declines 10 Pc to Rs 3,452 Crore in FY23

New Delhi, Oct 13 (PTI) Samsung India Electronics registered about a 10 per cent decline in consolidated net profit to Rs 3,452.3 crore in 2022-23, according to details shared by market intelligence firm Tofler.

The company had posted a net profit of Rs 3,844.9 crore in FY22.

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Samsung India Electronics posted a 16 per cent increase in consolidated revenue to Rs 98,924.4 crore in FY23.

"Samsung India Electronics Pvt Ltd reported its revenues for 2022-23 at Rs 98,924 crore, a 16 per cent jump since the last financial year.

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"The company further reported a net profit of Rs 3,452 crore during the same fiscal. This is a 10 per cent decrease from the last financial year," Tofler said.

Samsung India Electronics recorded a revenue of Rs 85,324.8 crore in FY22.

"The company's total expenses for the fiscal were reported as Rs 93,792 crore," Tofler said.

The company's profit before tax was down 7.79 per cent to Rs 5,132.20 crore in FY23.

Its other income was also down 20.1 per cent to Rs 2,295.50 crore in the previous fiscal.

The company had posted a total revenue of 73,085.90 crore in FY19 and Rs 78,651.20 crore in FY20. It dropped to Rs 77,501.40 crore in FY21.

The total expenses of the firm were Rs 93,792.20 crore for 2022-23, up 17.59 per cent, as against Rs 79,758.90 crore.

Samsung India Electronics receives its major revenue from the mobile phone business.

Samsung Electronics also operates in segments such as mobile phones, tablets, televisions, home appliances and computers in the Indian market.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)