Comments
Redington (India) Ltd, the distribution and supply chain solutions provider, has reported a 10 per cent decline in consolidated net profit for the fourth quarter ended March 31, 2023 to ₹310 crore against ₹348 crore for the same quarter last year as other expenses increased to ₹420 crore (₹332 crore). Revenue for the quarter increased 26 per cent to ₹21,848 crore (₹17,302 crore).
Net profit for the full year rose 9 per cent to ₹1,439 crore (₹1,315 crore) on a 27 per cent increase in revenue to ₹79,376 crore (₹62,544 crore).
Revenue for the fiscal from Singapore, India and South Asia (SISA) increased by 26 per cent to ₹36,932 crore (₹29,281 crore) and from Rest of World increased by 27 per cent to ₹42,453 crore (₹33,363 crore). There was a strong performance across all business segments, the company said.
The company distributes products of global technology giants like Apple and Dell.
Dividend
The company has announced a dividend of ₹7.2 per equity share of ₹2 each (360 per cent of face value).
Rajiv Srivastava, Managing Director, Redington Ltd, said in a release, “the company’s growth in FY23, has been driven by reinventing ourselves across many dimensions. We made significant investments in improving our digital capabilities, building platforms and creating processes to enable faster time to market and providing choice to customers to engage with us in ways they prefer.”
The company’s share price on the BSE closed at ₹175.25 a piece, down 0.74 per cent.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.