- 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,/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:
https://mma.prnewswire.com/media/2413941/Redington_Logo.jpg
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