Noted Industrialist Ratan Tata Bags Huge Gain after iPhone plant Takeover, as Revenue Surges Significantly

Tata Electronics reported a consolidated income of ₹3,802 crore in FY24, a significant increase from ₹401 crore in March 2023, according to filings with the Registrar of Companies (RoC) last week. 

Tata Electronics claimed a ninefold increase in sales for the fiscal year ended March 2024. The company’s acquisition of Wistron’s iPhone manufacturing plant near Bengaluru has resulted in an exponential increase in sales. The company reported a consolidated income of ₹3,802 crore in FY24, a significant increase from ₹401 crore in March 2023, according to filings with the Registrar of Companies (RoC) last week. 

The acquisition of Wistron Infocomm Manufacturing India, which has since been rebranded as Tata Electronics Systems Solutions, has contributed to the company’s incredible success. This strategic move enabled the company to become a part of Apple’s worldwide supply chain. 

Tata Electronics reported a net loss of ₹825 crore in FY24, up over 50% from the previous year’s ₹532 crore. The Tata Group company suffered a larger net loss due to increased depreciation and interest charges. 

Earlier this month, Apple was ready to open its fourth iPhone manufacturing plant in India, which was developed by Tata Electronics in Hosur, Tamil Nadu. This factory, Tata’s second in the country, is set to begin operation in November. Tata Electronics would invest ₹6,000 crore in the new facility, matching the investment made in the components unit. 

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