Apple India profit soars, so does dividend payout
This is the first time in at least the last five fiscal years when the dividend payout exceeded the profit generated by the company. In FY23, it had paid Rs 1,515 crore as dividend after reporting a net profit of Rs 2,229 crore. "Apple's aggressive dividend extraction exceeding its annual profit suggests they're treating India as a cash cow," said Mohit Yadav, an analyst and founder of business intelligence firm AltInfo.
This is the first time in at least the last five fiscal years when the dividend payout exceeded the profit generated by the company. In FY23, it had paid Rs 1,515 crore as dividend after reporting a net profit of Rs 2,229 crore. "Apple's aggressive dividend extraction exceeding its annual profit suggests they're treating India as a cash cow," said Mohit Yadav, an analyst and founder of business intelligence firm AltInfo.
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