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Apple India reported a 66% year-on-year (YoY) increase in its net profit during the fiscal year ended March 31, 2026 (FY26) to ₹5,311 Cr from ₹3,196 Cr it reported in the year-ago period. The iPhone-maker’s operating revenue increased 31.4% to ₹1.04 Lakh Cr from ₹79,060 Cr in FY25, buoyed by a significant jump in its sales of iPhone, MacBooks, iPad and other products. Apple India’s revenue from the sale of traded goods jumped to ₹99,068 Cr in the period under review, an almost 33% increase from ₹74,680 Cr in FY25. Its remaining operating revenue came from its support services, including Apple Care services, which grew 7.6% YoY to 4,292.8 Cr, while revenue from maintenance contracts fetched ₹492.4 Cr. Meanwhile, it earned ₹463 Cr from finance income and ₹291 Cr in other income during the fiscal year, taking its total income to ₹1.05 Cr. To note, the tech giant had earlier said that its India market operations delivered strong double-digit revenue growth during the June quarter (Q1 FY27), aided by exceptional demand for its more affordable MacBook Neo. Apple has continued to deepen its presence in India, expanding beyond its flagship iPhone business into a broader ecosystem spanning Macs, iPads, wearables and services. India has also become central to Apple’s global manufacturing strategy, with the country emerging as one of Apple’s largest production bases outside China. iPhone exports from India crossed ₹2 Lakh Cr in FY26. It is now expanding its foothold in the country further through its financial services unit Apple Pay, which it launched in India last month in partnership with Axis Bank. The rollout has allowed iPhone, iPad and Apple Watch users to make payments in apps, online and at contactless-enabled stores, with Mac support coming soon. It has already onboarded a host of merchants for Apple Pay, including Apple Store physical locations, Blinkit, Chaayos, Comet, Croma, Interflora, ixigo, Le15 Patisserie, Reliance brands, Tata 1mg, Zomato, among others. Despite the strong growth, the company now expects supply constraints in the coming months due to a shortfall in advanced semiconductor manufacturing capacity, along with constraints around memory components. The company expects the constraints to affect availability of iPhones, Macs and iPads globally, which could also have an impact on markets such as India if component shortages persist. Where Did Apple India Spend In FY26? Apple India’s total expenses during the fiscal year under review grew 28% to ₹96,224 Cr from ₹75,190.7 Cr it reported in FY25. Notably, the company paid ₹10,373.7 Cr in license fee during the year, more than double of ₹4,257.8 Cr it spent in FY25. Purchase Of Traded Goods: Apple India’s inventory expenses stood at ₹78,228.7 Cr during the fiscal year, a 21.6% jump from ₹64,335.8 Cr in FY25, making it the company’s biggest expense. Employee Benefit Expenses: Its expenditure under this head surged 13% YoY to ₹3,531.3 from ₹3,126.1 Cr in FY25, including spending on wages, PF contributions, gratuity and staff welfare. Notably, the company paid ₹17,80.4 Cr in salaries and bonuses during the year. Marketing & Advertisement: Another major expense head, marketing and advertising cost Apple India ₹1,075.2 Cr during the year, increasing 22.6% YoY from ₹877.1 Cr in the year-ago period.
document fetched 2026-10-21 02:57 · canonical https://inc42.com/buzz/apple-indias-fy26-profit-jumps-66-yoy-to-%e2%82%b95311-cr-revenue-up-31