Sony India FY24 profit rises to Rs 167 cr, revenue at Rs 7,663.74 cr

Consumer electronics maker Sony India's profit edged up 22.18 per cent to Rs 167 crore while revenue from operations increased 20.6 per cent 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 Corporation, 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 per cent 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 per cent to Rs 179.02 crore in the financial year ended on March 31, 2024.

Its royalty cost, paid to the Japanese parent company, was up 13.6 per cent to Rs 259.07 crore.

Sony India's revenue from Consumer Audio and Visuals was up 15.7 per cent to Rs 6,300.20 crore in FY'24 as against Rs 5,445.73 crore a year ago.

While its revenue from other businesses was up 50.16 per cent to Rs 1,363.54 crore.

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