3431 Investors following Redington. Share this News with them.
0
Like this story, share it with millions of investors on M3
Redington India says will maintain 33% overseas growth
In an interview to CNBC-TV18, SV Krishnan, the CFO of Redington India says it’s been a good set of numbers led by strong overseas performance that the company has managed to maintain this quarter.
IT distributor Redington India has reported a sales turnover of Rs 2,492.28 crore and a net profit of Rs 33.40 crore for the quarter ended Dec '11.
For the quarter ended Dec 2010 the sales turnover was Rs 2,150.66 crore and net profit was Rs 29.49 crore.
In an interview to CNBC-TV18, SV Krishnan, the chief financial officer of Redington India says it's been a good set of numbers led by strong overseas performance that the company has managed to maintain this quarter. I have two questions. What exactly led to the growth in terms of Arena, was it Middle East etc.? Is this 33% sustainable going forward at all?
With respect to their overseas growth, the Middle East and African geography has done very well in the current quarter. This is because there is a surge in the demand that we have seen in that market with whatever the oil price is today.
He says that the 33% growth that they have shown should be sustainable. As far as Turkey-based Arena is concerned, the subdued demand environment in that market still continues to remain. "We think it will take couple of quarters before we return back to a good growth level in that geography."
