Redington (India) jumps after decent Q4 outcome

Redington (India) jumped 5.72% to Rs 104.45 at 15:07 IST on BSE after consolidated net profit rose 7.84% to Rs 113.05 crore on 19.21% increase in total income from operations to Rs 8115.39 crore in Q4 March 2014 over Q4 March 2013.

The result was announced during trading hours today, 30 May 2014.

Meanwhile, the BSE Sensex was down 16.83 points, or 0.07%, to 24,217.32.

On BSE, so far 3.52 lakh shares were traded in the counter, compared with an average volume of 1.86 lakh shares in the past one quarter.

The stock hit a high of Rs 107 so far during the day, which is also 52-week high for the counter. The stock hit a low of Rs 95 so far during the day. The stock hit a 52-week low of Rs 48 on 30 September 2013.

The stock had outperformed the market over the past one month till 29 May 2014, rising 12.85% compared with 7.87% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 42.77% as against Sensex's 14.74% rise.

The mid-cap company has an equity capital of Rs 79.90 crore. Face value per share is Rs 2.

On a consolidated basis, net profit rose 4.19% to Rs 336.64 crore on 15.60% increase in total income from operations to Rs 27935.09 crore in the year ended March 2014 over the year ended March 2013.

Redington provides end-to-end supply chain solutions for all categories of information technology products (PCs, PC building blocks, networking, software and enterprise solution products) and consumer and lifestyle products (telecom, digital lifestyle products, entertainment products and digital printing machines) to over 100 international brands and relationship with major brands have been for years. As a group, Redington is present in India, Middle East,Africa, Turkey, Srilanka, Bangladesh and CIS countries.

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