Lenovo India registers 26.9% income progress in Q2

Tech main Lenovo on Thursday mentioned it has logged a robust efficiency within the July-September 2021 interval with whole income at USD 621 million throughout the quarter.

The overall income for all Lenovo companies in India was USD 621 million for the second quarter (July-September 2021), representing a year-on-year improve of 26.9 per cent, in line with a press release.

Companies and customers in India are quickly evolving their relationship with know-how, and this accelerated transformation is creating new alternatives for Lenovo throughout our enterprise segments, Lenovo India Managing Director Shailendra Katyal instructed PTI.

He added that to understand these alternatives, Lenovo is investing considerably in innovation throughout its enterprise because it progresses from a tool firm to an built-in providers and options supplier.

“We leverage know-how to empower companies each massive and small, the communities they serve, and the people who’re creating the longer term,” he mentioned.

Historic revenue and income

Lenovo Group has introduced document quarterly outcomes for the group globally, with “historic highs for each revenue and income”.

The corporate’s operational excellence, innovation, and robust execution underpin the enhancements throughout all key enterprise teams, regardless of wider trade provide challenges, it mentioned.

“These, along with the alternatives created by accelerated digitalisation, clever transformation, and IT upgrades in units, infrastructure, and functions all over the world proceed to gas the group’s long-term and sustainable profitability will increase,” the assertion mentioned.

Lenovo’s group income elevated 23 per cent to USD 17.86 billion within the September 2021 quarter, towards USD 14.51 billion within the year-ago interval.

Its internet earnings (revenue attributable to fairness holders) jumped 65 per cent to USD 512 million within the the quarter below overview from USD 310 million within the year-ago interval.

Lenovo’s analysis and improvement (R&D) funding significantly elevated by virtually 60 per cent, Lenovo Chairman and CEO Yuanqing Yang mentioned.

“Wanting forward, we’ll proceed to drive to our objective to double R&D spending over three years, and additional drive our service-led clever transformation,” he added. PTI SR hrs hrs

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