Redington Achieves Best Q1 Ever with ₹21,335 Crore Revenue

Redington Ltd has announced its financial results for the quarter ending June 30, 2024 (Q1 FY’25), showcasing strong performance across all business segments, outperforming industry standards.

With revenue reaching ₹21,335 crores, the company stated that this has been its best Q1 to date. Net profit, excluding Arena, saw a year-on-year growth of 13%.

Despite challenges such as capital decision delays in India and Saudi Arabia, and unfavourable market conditions in Turkey, Redington demonstrated resilience. The company added that it successfully adapted to diverse market conditions and capitalised on new opportunities across different geographies. This success is attributed to deepening brand and partner relationships, expanding its range of offerings, and investing in market access strategies.

Redington’s transformation initiatives have driven its growth as it transitions from a traditional distributor and aggregator to a comprehensive technology solutions provider. The company is meeting market demands for consumer devices, smartphones, hybrid work and learning environments, as well as SMB and enterprise technology solutions, including cloud, infrastructure for servers, storage, networking, and security. It is also addressing emerging technology needs spurred by the increasing adoption of Cloud, Generative AI, Cyber Security, and Sustainable Technologies.

The company’s focus on addressing “Technology Friction”—the gap between the pace of innovation and technology adoption—has been pivotal in shaping its business and market strategy. By prioritising digital and cloud technologies, Redington is investing in upskilling its partners, and enhancing their access to cutting-edge technology products, services, and solutions.

Commenting on the financial performance, the Group CEO of Redington Ltd, Mr V.S. Hariharan, said, “In Q1FY25, our growth has been led by a stellar performance in the Cloud business, with a solid 35% YoY and good growth in the End point solutions business. India & UAE continue to provide us with momentum by delivering growth of 6% and 17% YoY, 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 & 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.”

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