Redington India has declared its second quarter results. In an interview to CNBC-TV18, SV Krishnan, chief financial officer of Redington India says, he expects good growth in FY12.
He says, the company expects to maintain 24% profit after tax (PAT) growth going forward. Below is the edited transcript of his interview with Sonia Shenoy and Ekta Batra of CNBC-TV18. Also watch the accompanying video. Q: Can you take us through what happened in India as well as your overseas market which has seen strong growth? What led to this upmove in terms of a revenue growth and what is the outlook for FY12? A: Overall, we have seen a great growth in the current quarter at the consolidated level. The growth that we have seen in the past two quarters had continued in this current quarter also. We grew our revenue by about 40% and earnings by about 24%. Mainly this is driven by some of the big brands like Blackberry, Apple. Blackberry, for example, has in each of the months during the last quarter has achieved an all time high. The growth still continues to be at a very strong pace. This is true with Apple also. After they launched iPad 2, their sales have increased by a very high percentage. So, when compared to Q2 of last year, we grew our Apple sales by about two-and-a-half times. So, all these have contributed to an excellent growth. While outlook as we speak now looks cautious because of whatever we hear from the other industries. Many of the products that we deal with like Blackberry and Apple are all consumer products and there is a slowdown in the consumer products. So, obviously there can be a slowdown in this. But otherwise as we speak now in the month of October the growth is continuing. So, we are hopeful that we will close this year with a good growth. Q: Can you tell us what has the contribution been from Arena, Turkish company which you acquired last year, in this quarterDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
