Redington Ltd announced strong financial results for Q4 FY’23 and the full financial year FY’23. Q4 revenues reached Rs. 21,895 Crores, the highest ever for any quarter, growing by 26% YoY. Q4 operating profit was Rs. 590 Crores, also the highest ever for Q4, with a 15% YoY growth. The full-year revenue for FY’23 was Rs. 79,519 Crores, a 27% YoY growth, and the PAT was Rs. 1393 Crores, a 9% growth.
Redington attributed its success to investments in technology capabilities, stronger partner relationships, comprehensive offerings, and business model innovations. The company has been transforming into a holistic technology solutions provider, addressing market demands for consumer devices, smartphones, hybrid work environments, SMB and enterprise technology solutions, and emerging technologies like 5G, IoT, Edge Computing, and Generative AI.
Redington emphasized its focus on digital transformation and becoming a managed services provider for cloud, security, and audits. The company aims to bridge the gap between innovation and technology adoption by investing in upskilling partners and providing access to new technology products, services, and solutions through its Centre of Excellence (COEs).
Rajiv Srivastava, Managing Director of Redington Ltd, stated that the company’s growth in FY’23 was driven by reinvention, digital investments, and providing more value to customers. Redington remains committed to empowering its partners and supporting their business growth.
Redington’s financial performance reflects its strong execution, market share gains, and success in adapting to evolving technology trends.
