Redington Ltd records standalone Q1 profit at Rs 155.67 crore

Integrated technology solutions provider Redington Ltd on Thursday reported a standalone profit for the April-June 2024 quarter at Rs 155.67 crore.

The city-based company had registered a profit of Rs 194.06 crore during the corresponding quarter of last year.

For the financial year ending March 31, 2024, the standalone profit stood at Rs 1,081.24 crore.

The standalone total income during the quarter under review grew to Rs 10,309.42 crore, from Rs 9,758.89 crore registered in the same quarter of last year.

For the year ending March 31, 2024 the standalone total income was at Rs 41,740.56 crore.

In a statement issued on Thursday, the company said it delivered a strong performance across all business segments.

At Rs 21,335 crore this has been our best Q1 ever, net profit (Excluding Arena) grew at 13 per cent year-on-year with a Profit After Tax of 1.42 per cent.Commenting on the financial performance, Redington Ltd Group CEO V S Hariharan said, "In Q1 FY25, our growth has been led by stellar performance in the Cloud business, with a solid 35 per cent year-on-year good growth in the End point solutions business. India and UAE continue to provide us with the momentum by delivering a growth of 6 per cent and 17 per cent year-on-year, respectively and there are signs of profitable growth recovery in Africa."

"We had challenges in the Turkey business due to softening demand caused by tough market conditions. Needless to mention, we remain agile and resilient to the nuances posed by each geography. In this era of digital transformation and constant market shifts, our initiatives are designed to deliver exceptional value to our customers. This customer centric approach has not only driven our market share gains but also strengthened our growth trajectory," Hariharan said.