Samsung India FY20 profit increases 88% to 2,902 cr; revenue up 7.6%

Samsung India Electronics' standalone net profit increased 88.4 per cent to Rs 2,902.30 crore in 2019-20, as per data provided by business intelligence firm Tofler.

Samsung India had posted a net profit of Rs 1,540.10 crore in the financial year 2018-19.

Total revenue was up 7.6 per cent to Rs 78,651.20 crore in FY20 as against Rs 73,085.90 crore in the previous fiscal year.

The company's revenue from operations in FY 2019-20 stood at Rs 75,461.50 crore, up 6.8 per cent from Rs 70,627.70 crore earlier.

Samsung India gets around 70 per cent of its revenues from the mobile phone segment.

During the financial year 2019-20, its total expenses went up by 5.9 per cent to Rs 74,413.80 crore as against Rs 70,228.30 crore.

E-mails sent to Samsung India did not elicit any immediate response.

Employee Benefit Expenses rose 6.51 per cent to Rs 2,699.60 crore as against Rs 2,534.40 crore earlier.

Samsung India competes with players like Xiaomi and OnePlus in the mobile handset segment and LG, Sony and Panasonic in the TV and appliances segment.