LG Electronics India Sees Strong Revenue and Profit Growth in FY24
India: LG Electronics India reported a 7% increase in revenue, reaching Rs 21,557 crore (2.59 billion USD) for FY24, according to recent filings with the Registrar of Companies. Segment-wise, refrigerators contributed 27% of revenue, followed by washing machines at 21%, and televisions and air conditioners each accounting for 20%. The company's net profit rose 12% to Rs 1,511 crore (181.3 million USD), as per data from business intelligence platform Tofler.
In its home entertainment division, covering products like televisions, audio systems, DVDs, monitors, and security cameras, LG Electronics India generated Rs 5,672 crore (681.1 million USD) in revenue. The home appliances and air solution division, including refrigerators, air conditioners, washing machines, and other home products, contributed Rs 15,681 crore (1,885.4 million USD). Additionally, the company earned Rs 1,086 crore from exports and paid a royalty of Rs 375.5 crore (45.2 million USD) to its parent company in Seoul.
Source: Business Standards