(Image source from: First time in Indian operation Apple crosses sale mark of $1billion})

For the first time in Indian operations, Apple crossed the sale mark of $1-billion in the year ended March, as per the results filled on Wednesday with the Registrar of Companies (RoC).

The company posted increase in sales by 44% to Rs 6,472.89 crore from Rs 4500.35 crore, while the net profit doubled to Rs 242.85 crore from Rs 119.48 crore. The iPhones and iPads maker has widened its retail network and rose marketing efforts, which include discounts, installment programs as well as buyback schemes. In FY15, rupee traded at around 62-63 against the dollar.

The Apple India annual report said, "With a view to conserving its financial resources, no dividend payout to the company's shareholders has been recommended by the board of directors for the current year."

In previous two years, the sales of Apple in India have more than doubled. The company posted Rs 3,057.79 crore revenue in FY13. This was attributed by the analysts to demand surge for iPhones with sales rising up nearly 35% every quarter in the last two years. The RoC filing indicated that no dividend was taken by parent from the India operations in FY15.

-Sumana