The Chennai-headquartered Redington Ltd, one of the world’s leading IT distributors, has harnessed a bumper global annual growth of 27% YoY to Rs 79,519 Crore in the FY 2023
In a major development for the Indian IT industry, the Chennai-headquartered Redington Ltd, the top notch IT distributor in the world, has come out with its financial results for the full financial year FY 2023 ended March 31st, 2023, which says that the company registered a global revenue of Rs. 79,519 Crore, which is a 27 percent YoY growth; and a PAT (profit after tax) of Rs 1,393 Crore, a growth of 9 percent.
The same report also informs that Redington harnessed a Q4 2023 revenue of Rs 21,895 Crore, which has been the highest ever for any quarter growing by a strong 26 percent YoY, and at Rs. 590 Crore, it has registered highest ever Q4 operating profit with a 15 percent YoY. Redington operates through its subsidiary companies including Redington India, Redington Gulf and Redington Singapore.
Rajiv Srivastava, MD, Redington Ltd, says, “Our growth in the FY 2023 has been driven by reinventing ourselves across many dimensions. We made significant investments in improving our digital capabilities, building platforms and creating processes to enable faster time to market and providing choice to customers to engage with us in ways they prefer. While technology distribution has been our core value proposition, we’re focused on building competencies and capabilities to provide managed services for private and public cloud, security and audits.”
Technology industry globally has been going through a phase of reduced demand and our initiatives ensure we provide more value to serve our customers better thereby gaining share and accelerate our growth momentum. Our partners play a most crucial role and we remain committed to empowering them and helping them in their business growth.
Rajiv Srivastava
Managing Director
Redington Ltd
“Technology industry globally has been going through a phase of reduced demand and our initiatives ensure we provide more value to serve our customers better thereby gaining share and accelerate our growth momentum. Our partners play a most crucial role and we remain committed to empowering them and helping them in their business growth,” elaborates Srivastava.
Redington’s digital transformation has been a key growth catalyst as the company transitions from its role of distributor and aggregator towards becoming a holistic technology solutions provider. It is addressing the market demand for consumer devices and smartphones, hybrid work and learn environments, SMB and enterprise technology solutions including cloud, infrastructure for servers, storage, networking and security. It is also responding to the emerging technology requirements fueled by growing adoption of 5G, IoT (internet of things), edge computing and generative AI.
Supported by solid execution across businesses and geographies, Redington continues to gain share and secure new opportunities in the markets they compete in. The company emphasized that this record performance is an outcome of continued investments in improving their technology capabilities, building deeper partner relationships, making breadth of offerings more comprehensive and innovations in business model.
Qaisar
