Philips India Limited has announced its annual report for the financial year ended March 31, 2022. As per the annual report, the total income of the company reported an increase of 14%, to Rs. 5546 crore as against Rs. 4883 crore in the previous financial year. Total expenses of the company have also increased 15%, to Rs. 5312 crore compared to Rs. 4630 crore in FY21. The PBT of the company has reported a massive increase of 44%, to Rs. 364 crore in FY22 as against Rs. 253 crore in the previous financial year. The PAT of the company was Rs. 256 crore, an increase of 45% in FY22 compared to Rs. 176 crore in FY21. The net profit of the company has also increased 51%, to Rs. 265 crore as against Rs. 176 crore in the previous financial year. In FY22, the net worth of the company reported a marginal drop of 5%, to Rs. 2395 crore as against Rs. 2277 crore for the previous financial year. During the year 2021-22, the Health Systems business of the Company delivered strong performance with overall revenue growth of above 60% driven by favorable market growth and customer requirements during the pandemic. In FY22, the company launched two new products - MR 5300 - Helium free 1.5 T MRI and Spectral CT 7500 – Premium CT scan with dual detectors. With these two products, Philips India positioned itself as a leading healthcare company in the industry. The Personal Health business continued its growth journey despite the Covid-19 outbreak and delivered 16.3% growth in a highly competitive market over the previous financial year. Philips Innovation Campus, Bangalore is working on developing products and innovative solutions across the healthcare continuum to improve people’s health. Philips India is a subsidiary of Royal Philips which is a Netherlands-based global health-tech company with a 96.13% shareholding. The company is primarily involved in the manufacturing of Health System Machines (MRIs, CT Scan, Digital X-ray), Personal Care (Trimmer, Hair Dryer), domestic appliances (iron, juicers, food processor), and Innovation center. The company has a manufacturing plant in Pune and a software development center in Bengaluru.