LG Electronics India posts 7% revenue growth, 12% rise in profit for 2024

In its segment-wise revenue, LG reported Rs 5,672 cr from the home entertainment division, under which it sells televisions, audio systems, DVDs, monitors, and security cameras, among other products

Consumer durables manufacturer LG Electronics India reported a 7 per cent uptick in revenues to Rs 21,557 crore in financial year 2024 (FY24), according to its latest Registrar of Companies (RoC) filings.

 

Refrigerators made up 27 per cent of the company's revenue, followed by 21 per cent by washing machines, 20 per cent each by televisions and air conditioners.

 

According to financial data accessed by business intelligence platform, Tofler, the company's net profit rose 12 per cent to Rs 1,511 crore in FY24 from the year ago period.

 

In its segment-wise revenue, the company reported a revenue of Rs 5,672 crore in the home entertainment division, under which it sells televisions, audio systems, DVDs, monitors, and security cameras among others. In the home appliances and air solution division, under which it sells refrigerators, air conditioners, washing machines, cooking and cleaning products, water and air purifiers among others, it reported a revenue of Rs 15,681 crore.

 

Additionally, during the year under review, its foreign exchange earnings by way of exports was Rs 1,086 crore. It also paid a royalty of Rs 375.5 crore to its parent in Seoul.