KOLKATA: Chinese computer maker Lenovo India crossed the Rs 9,000 crore sales mark in 2019-20.

According to financial data posted to the Registrar of Companies (RoC) and accessed by business intelligence platform Tofler, Lenovo India revenue in FY20 jumped by 27% at Rs 9,108.93 crore.

The company’s net profit, however, took a beating at Rs 68.5 crore which is a decrease of 62% from Rs 178.69 crore in FY19. The company’s total expenses for the fiscal were reported at Rs 8,996 crore.

In the director’s report, Lenovo said the company directors have made all efforts to enhance the business performance during the current financial year.

Incidentally, Lenovo India had touched peak sales of Rs 12,004 crore in 2016-17 but it had almost halved in the following financial year after it exited the mobile phone business and transferred it to a group company in India.

In fact, the demand for computers grew significantly this year due to the pandemic. As per market researcher IDC India, the July-September quarter saw shipment of some 3.4 million units of desktops, notebooks, and workstations making it the biggest quarter in the last seven years in India.

Total shipments grew by 9.2% year-over-year during the quarter as the demand for e-learning and remote working remained strong. In fact, the consumer segment recorded its biggest quarter ever with two million unit shipments growing by 41.7% year-on-year.

Source link


Please enter your comment!
Please enter your name here