Redington Q4 FY24: Revenue Grows 3%, PAT Rises 5%

Redington has announced its financial results for the fourth quarter ended 31 March 2024 (Q4 FY4) reporting global revenues of Rs 22,513 crore for Q4, the highest-ever performance for the fourth quarter in any year, with 3 per cent year-on-year (YoY) growth. 

The Profit After Tax (PAT) for Q4 grew by 5 per cent YoY, reaching Rs 326 crore. For the full fiscal year FY24, Redington reported revenues of Rs 89,610 crore, reflecting 13 per cent YoY growth, with a PAT of Rs 1,219 crore.

Redington attributed its performance to solid execution across various businesses and geographies. Key regions such as India and the Kingdom of Saudi Arabia (KSA) exhibited decent growth in Q4, with India growing at 9 per cent YoY and KSA at 15 per cent YoY. 

The company said that this achievement is a result of continuous investments in improving route-to-market capabilities, strengthening brand relationships, expanding the range of offerings, and innovating business models.

“While technology distribution remains our core strength, the growth of the cloud business has been enabled by faster adoption of subscription and consumption business, enhanced by professional services. With our strong engagement with the Brands through initiatives, business plans, differentiated go to market approaches, and the slew of AI enabled solutions being launched by the vendors that will be distributed by us, will position Redington for sustainable growth and market share leadership in the years ahead,” V.S. Hariharan, Group CEO, Redington said in a statement.