Redington Ltd has reported its financial results for the quarter ending September 30, 2024 (Q2 FY’25), achieving a record-breaking quarter with revenues of Rs. 24,952 crores and a PAT of 1.34% (excluding Arena). This marks the company’s highest-performing quarter, bolstered by strong execution across multiple regions and business segments.
Despite facing challenges such as market volatility in Turkey and shifting IT investment priorities in Saudi Arabia, Redington demonstrated resilience by adjusting to diverse market conditions and expanding its presence. This performance is attributed to strengthened brand and partner relationships, an expanded array of services, and strategic investments in market entry channels.
Redington’s ongoing transformation efforts have been a key growth driver as the company evolves from a traditional distributor and aggregator to a comprehensive technology solutions provider. The company is meeting demand in areas such as consumer devices, smartphones, hybrid work solutions, and technology infrastructure for SMBs and enterprises, including cloud, servers, storage, networking, and security. Redington is also addressing the need for emerging technologies, propelled by the rising adoption of cloud computing, generative AI, cybersecurity, and sustainable solutions.
Mr. V.S. Hariharan, Group CEO of Redington Ltd, commented on the growth momentum, highlighting standout performances in the cloud sector, which saw a 53% YoY increase, and the mobility business, which achieved a 16% YoY growth. India and the UAE recorded robust YoY growth of 25% and 23%, respectively, while the company also saw signs of continued recovery in Africa.
Turkey remained a challenging market due to weakened demand, yet Q2 saw improvements over Q1, driven by effective inventory and receivables management. Redington’s operational efficiency allowed it to reduce its working capital to 25 days this quarter. The company also advanced its sustainability efforts, earning LEED certification for its Chennai headquarters, Redington Tower, and securing a No. 31 ranking among India’s most sustainable companies by Business World.
Redington aims to tackle “Technology Friction”—the disparity between the pace of innovation and technology adoption—through its business strategy. With a focus on digital and cloud initiatives, Redington is investing in upskilling and empowering its partners, providing greater access to the latest technology products and solutions.
