Redington net profit grows 4%

The company invested Rs 63 crore in its subsidiary Redington International Mauritius during the fiscal year

Redington (India) Ltd has posted a growth of 4% in net profit at Rs 122.28 crore for the quarter ended March 31, 2015, as compared to net profit of Rs 117.50 crore for the corresponding quarter of previous fiscal year. The total income from operations grew by 1.08% during the quarter, to Rs 8205.09 crore as against RS 8117.78 crore registered during the same quarter of previous year.

During the quarter, the company has made an additional equity investment of $3.90 million (24.26 crore) in its wholly-owned subsidiary Redington International Mauritius Ltd. For the whole year, the investment into the subsidiary was $10.4 million (Rs 62.71 crore), said the company.

The company has 51 subsidiaries including 47 overseas subsidiaries and step-down subsidiaries and has presence in Middle East, Turkey, Africa and South Asian countries apart from India, engaged mainly in Information Technology (IT) product distribution business besides supply chain solutions and after sales service of IT products.