Sony India FY24 Profit Up 22% To Rs 167 Crore

Consumer electronics maker Sony India's profit edged up 22% to Rs 167 crore in the financial year 2023-24, while revenue from operations increased 20.6% to Rs 7,663.74 crore, according to financial data accessed by the business intelligence platform Tofler.

Sony India, a wholly owned subsidiary of Japan's tech major Sony Corp., logged a profit of Rs 136.67 crore in 2022-23 while its revenue from operations stood at Rs 6,353.74 crore.

Its total expenses in 2023-24 were up 20.5% to Rs 7,502.30 crore as against Rs 6,225.87 crore in the previous year.

No comment was received from Sony India to an email seeking response on financial numbers till the filing of the story.

Sony India's 'advertising promotional expenses' were up 37.6% to Rs 179 crore in the financial year ended on March 31, 2024. Its royalty cost, paid to the Japanese parent company, was up 13.6% to Rs 259.07 crore.

Sony India's revenue from consumer audio and visuals was up 15.7% to Rs 6,300.20 crore in fiscal 2024 as against Rs 5,445.73 crore a year ago. While its revenue from other businesses was up 50.16% to Rs 1,363.54 crore.

India is the fourth largest market for Sony India after the US, China and Japan.