Salora posts 58% rise in profits for Q4

NEW DELHI: IT and consumer electronics distribution company Salora International Ltd today posted a 58 per cent jump in its net profit for the quarter ended March 31 at Rs 4.99 crore as compared to Rs 3.15 crore in the corresponding period in the previous year.

The company's turnover stood at Rs 264.79 crore, against Rs 133.28 crore in the same quarter previous fiscal, an increase of 98.67 per cent, Salora said in a statement.

"We are happy with our financial results. The whole credit goes to the effective and innovative marketing and distribution strategy of our team," Salora International Managing Director Gopal Jiwarajka said in the statement.

During the fiscal ended March 31, the company's net profit grew 51.2 per cent at Rs 16.27 crore while its turnover rose 51.2 per cent at Rs 883.37 crore.