Redginton’s Q4 profit jumps 150%

Redginton’s Q4 profit jumps 150%

Shares of Redington (India) hit upper circuit on Friday after the company reported a healthy growth in net profit in the quarter ended on March 31, 2021.
Net profit of the integrated supply chain solution provider rose 153.78% to Rs 302.51 crore in the March 2021 quarter, against Rs 119.20 crore during the same quarter a year ago.
The sales of Redington India increased 22.40% to Rs 15,503.94 crore in the quarter ended March 2021 as against Rs 12,666.66 crore during the previous quarter ended March 2020.
Shares of Redington India have delivered over 175% return to the investors to Rs 219.05 on Friday from Rs 79.30 in June last year. In the last months, the stock has gained 65%.
The company has posted a net profit of Rs 756.39 crore in the year ended March 2021, 46.81% up against Rs 515.21 crore during the previous year ended March 2020. Sales during the period rose 10.65% to Rs 56,945.86 crore. The company board has recommended a final dividend of Rs 11.6 per share.

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