New Delhi, Oct 20 (IANS) Apple India Private Limited's revenue crossed the Rs 1 lakh crore mark for the first time in the financial year ended March 2026, as the company recorded a sharp acceleration in both sales and profitability amid growing demand for premium smartphones in the country. 

Filings submitted by Apple India to the Registrar of Companies, accessed through business intelligence platform AltInfo, show that revenue from operations rose 31 per cent year-on-year to Rs 1,03,853 crore in FY26, compared with Rs 79,060 crore in FY25. The growth was significantly higher than the 18 per cent increase recorded in the previous financial year.

The company’s net profit grew at an even faster pace, surging 66 per cent to Rs 5,311 crore in FY26 from Rs 3,196 crore a year earlier. In FY25, Apple India’s profit had increased by 16 per cent.

The strong performance comes against the backdrop of relatively modest expansion in India’s overall smartphone market. According to Counterpoint Research, the market grew by just 2 per cent in volume terms and 9 per cent in value terms in FY26. However, the premium segment, comprising smartphones priced above Rs 30,000, outperformed the broader market, with volumes increasing by 12 per cent

Apple benefited from this shift towards higher-priced devices, with iPhone volumes rising 24 per cent in FY26, compared with 11 per cent growth in FY25.

The latest results also bring Apple India’s revenue closer to that of Samsung Electronics India, its key competitor in the domestic market. Samsung Electronics India reported revenue of Rs 1.12 lakh crore in FY26, marginally higher than Apple India’s total.

However, the two companies’ revenue figures are not directly comparable, as Samsung’s business extends well beyond smartphones to include televisions, home appliances, telecom network equipment and exports. Its mobile phone revenue reportedly declined 1.4 per cent to Rs 81,472 crore in FY26.