 "Redington Q4 results: Net profit rises 5% to Rs 326 cr on gadgets demand")
Indian IT products distributor Redington reported a 5% rise in quarterly profit on Wednesday, aided by demand for mobile phones and computers in its key markets.
The Apple and Samsung gadgets distributor's consolidated net profit climbed to Rs 326 crore ($39.06 million) for the fourth quarter ended March 31, according to a regulatory filing.
Affluent Indians are increasingly spending more than Rs 30,000 ($361.30) on new smartphones, benefiting manufacturers and distributors such as Redington.
Global personal computer sales also show signs of recovery after inflation-hit customers delayed system upgrades for several quarters.
Revenue from operations for Redington rose nearly 3% to Rs 22,433 crore, benefiting from an 8% growth in its SISA segment, which includes Singapore, India and South Asia.
Revenue from its consumer and commercial personal computers, print and supplies business in SISA rose 10% in the quarter, while its smartphones and feature phones business in the region recorded a 6% growth.
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The growth in SISA made up a 2% decline in revenue from the rest of the world for the company, which has a presence in 31 countries, including Rwanda, Oman and Turkey.
Shares of Chennai, Tamil Nadu-based Redington closed 1.3% higher ahead of the results, taking their gains to nearly 22% this year.