Mumbai: Apple crossed US $1-Billion sales mark in its Indian operations for the first time in the year ended March, according to results filed with the Registrar of Companies (RoC).
The maker of iPhones and iPads posted a 44% increase in sales to $979.8 Million (Rs 64.72 Billion) from $680.65 Million (Rs 45 Billion) and net profit doubled to$36.725 Million (Rs 2.428 Billion) from $18.1 Million (Rs 1.194 Billion) as the company widened its retail network and stepped up marketing efforts, including buyback schemes, installment programmes and discounts.
Analysts attributed this to the surge in demand for iPhones with sales growing upwards of 35% quarter-on-quarter in the last two years. As per the RoC filing, the parent didn't take any dividend from India operations in financial year 2015,
The Indian Rupee traded at around 62-63 against the dollar in FY15.
QNA
