Redington Ltd outperforms industry with highest ever Q4 revenue of Rs. 21,895 Crores

Redington Ltd reports strong financial performance in Q4 FY’23 and full year, outperforming industry with highest ever Q4 revenues and transitioning to holistic technology solutions provider.

Redington Ltd (NSE: REDINGTON) has reported its financial results for both Q4 FY’23 and the full financial year. The company achieved strong performance across all business segments, outperforming the industry. Q4 revenues were at Rs. 21,895 Crores, the highest ever for any quarter, with a YoY growth of 26%. Additionally, the Q4 operating profit registered a YoY growth of 15%, reaching Rs. 590 Crores, the highest ever. For the full year FY23, Redington reported a revenue of Rs. 79,519 Crores, with a growth of 27% YoY and a PAT of Rs. 1393 Crores, a growth of 9%. Redington’s success is attributed to its investments in technology capabilities, partner relationships, comprehensive offerings, and business model innovations. The company is transitioning from a distributor and aggregator to a holistic technology solutions provider. It is addressing market demand for consumer devices, smartphones, hybrid work and learn environments, SMB and enterprise technology solutions, cloud, infrastructure for servers, storage, networking, security, and emerging technology requirements fueled by growing adoption of 5G, IoT, Edge Computing, and Generative AI.

The company’s focus on digital transformation, upskilling its partners, and providing them with greater accessibility to new age technology products, services, and solutions is key to addressing technology friction, the gap between innovation and adoption. Redington Limited is an integrated technology solutions provider with presence across 38 markets through 60 subsidiary offices, over 300+ brand associations, and 43,000 channel partners, enabling 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.