Philips India Ltd. released its financial results for FY23.

25 July 2023

For FY23, Philips India Ltd. announced its annual results, reporting a 5% increase in revenue, rising from Rs. 5481.40 crore in FY22 to Rs. 5734.00 crore in FY23. However, the net profit experienced a decline of 2%, reducing from Rs. 265.90 crore in FY22 to Rs. 260.00 crore in FY23. During the same period, the company distributed an interim dividend for FY23, resulting in a cash outflow of Rs. 1276.9 crore. The Health Systems business faced challenges due to global macroeconomic conditions, while the personal care segment demonstrated growth with a positive performance of 7.5%.