- Surpassed Rs.89,600 Crores in
revenues for FY'24
- Q4 FY'24 YoY Revenue growth of 3%; PAT growth of
5%
- FY'24 YoY Revenue growth of 13%
CHENNAI,
India, May 15, 2024 /PRNewswire/
-- Redington Ltd (NSE: REDINGTON), today announced its
financial results for the quarter ended March 31, 2024 (Q4 FY'24) and full financial year
FY'24 delivering strong performance vis-à-vis the industry across
all business segments.
At Rs. 22,513
Crores overall global revenues for Q4 have been the highest
ever performance for Q4 of any year, with a 3% YoY growth and at
Rs. 326 Crores, PAT grew at 5% YoY.
For the full year FY24 the company reported a revenue of Rs.
89,610 Crores which is a growth of
13% YoY and a PAT of Rs. 1,219
Crores.
Supported by solid execution across
businesses and geographies, Redington continues to gain share and
secure new opportunities in the markets they compete in. In Q4,
some of the Company's key Geographies grew well, viz. India growing at 9% YoY and KSA (Kingdom of Saudi Arabia) growing at 15% YoY.
The company emphasized that this record performance is an outcome
of continued investments in improving our route to market
capabilities, building deeper brand relationships, making breadth
of offerings more comprehensive and innovations in business
model.
"Building on the momentum from a strong
Q3, Redington's Q4 and FY24 results reflect the continued success
of our efforts towards driving profitable growth. We've adapted
with a focus on profitable growth geographies, investing in
new revenue streams, and enhancing our capabilities. This fiscal
year stands out for achieving stable growth, across all business
units, while continuing to maintain leadership position. While
technology distribution remains our core strength, the growth of
the cloud business has been enabled by faster adoption of
subscription and consumption business, enhanced by professional
services. With our strong engagement with the Brands through
initiatives, business plans, differentiated go to market
approaches, and the slew of AI enabled solutions being launched by
the vendors that will be distributed by us, will position Redington
for sustainable growth and market share leadership in the years
ahead." said Mr. V.S. Hariharan, Group CEO, Redington
Ltd.
*The detailed Financial Report for
FY23 can be accessed here:
https://www.bseindia.com/xml-data/corpfiling/AttachLive/6491f885-b5cd-48de-91cd-ba69af88e664.pdf
Safe Harbor
Certain statements in this release are
forward-looking statements. The business involves various risks,
and uncertainties that could result in the actual results to differ
materially from those indicated here. All forward looking
statements made herein are based on information presently available
to the management of the Company and the Company does not undertake
to update any forward looking statement that may be made from time
to time by or on behalf of the Company.
About Redington
Ltd:
Redington Limited, an integrated
technology solutions provider and a Fortune 500 company, enables
businesses in their digital transformation journeys by addressing
technology friction – the gap between innovation and adoption. With
presence across 38 markets through 60 subsidiary offices, over 300+
brand associations, and 43,000 channel partners, Redington enables
seamless and end-to-end distribution for all categories of IT/ITeS,
Telecom, Lifestyle, and Solar products in India, Singapore, South
Asia, Middle-East,
Africa and Turkey. Through
its concentrated focus on technology, innovations, and
partnerships, Redington is one of the most trusted distributors of
products, services, and solutions across the world.
For more details, please
visit https://redingtongroup.com/
Media
Contact:
Himani
Rautela
rautela.himani@redingtongroup.com
9711306576
Logo:
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SOURCE Redington