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CentrumDirect, a forex and leisure travel services provider, sees business from IT and IT enabled services companies to pick up from this quarter.
“IT/ITeS companies went through a bad patch for the past 18 months. For the past two months, we see it pick up,” said T C Guru Prasad, managing director.
Businesses from IT/ITeS companies comprise 20 to 22 per cent of CentrumDirect’s Rs 4,000-crore turnover.
In the past two years when the IT/ITeS companies were in a slowdown phase, the company had to identify other sectors where overseas remittance was needed, and focused on film shoots, media events and students.
“Now these new sectors have become big revenue earners for us as we handle their forex remittance overseas. Along with this, leisure travel has also picked up,” said Prasad.
CentrumDirect is expecting a good growth in the fourth quarter of its 2013-14 financial year. The company follows July to June accounting year.
“Early indication shows that this holiday season (April-May-June) would be good,” he said. In the first-six months of 2013-14, the company has clocked 17 per cent growth and expects to close the year on similar levels.
The company has secured the rights to operate forex services at Terminal 1 of Kempegowda International Airport, Bangalore. “With this, now we operate at four airports across the country. Others are Mumbai, Chennai, and Bagdogra,” said Prasad.
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