Sony India’s profit increased by 32 percent to Rs 136.7 crore in FY 2013
New Delhi: Consumer electronics maker Sony India’s 2022-23 profit rose 31.8 per cent to Rs 136.7 crore and its revenue from operations rose 23.1 per cent to Rs 6,353.74 crore, according to financial data accessed by business intelligence platform Tofler.
Sony India, a wholly owned subsidiary of Japan’s tech major Sony Corporation, had posted a profit of Rs 103.71 crore for the financial year ending March 31, 2022, while its revenue from operations stood at Rs 5,161.23 crore.
Commenting on the performance, Sony India Managing Director Sunil Nayyar told PTI, “This has been led by premiumisation in its offerings.” Now FY14 also looks very promising and We are expecting 15-20 per cent price growth and profitability is also going to be good,” he said, adding that there will be premium TV sets of 55 inches and above. ‘Development driver’. Sony India was witnessing a decline in its revenues after its parent company exited the mobile phone and laptop business. At its peak, Sony India’s revenue in FY2015 was over Rs 11,000 crore. However, from FY22 onwards, Sony India’s revenues stabilized and started registering positive growth numbers.
“We were trying to come back. Now India’s premium market has finally evolved,” Nayyar said. “We are building a growth story, continuing to grow both the top line and the bottom line and innovating and bringing new products to the country Sony India’s total income for FY2013 grew by 23.17 per cent to Rs 6,404.54 crore. A year ago it was at Rs 5,199.75 crore. Its total expenditure increased by 23.07 per cent to Rs 6,225.87 crore in FY2013, compared to Rs 5,058.57 crore in FY2012.
According to Sony India, “The company’s TV business continued to grow in FY22 post-COVID, and large screen expansion was the main contributor to its overall growth, thanks to the large screen shift in the market where we maintained our dominance , and our XR processor, which enhances both picture and sound with the Google TV platform.” Its audio business had a mixed performance as it continued its growth momentum along with OTT expansion. The headphones business maintained its position due to very stiff competition, however, it was dominant in the active noise canceling headband segment in FY2013.
Its digital imaging business, under which it sells cameras, had “strong momentum”, helped by dominance of the wedding market. It said that in view of the shortage, its gaming business is also continuously growing.
