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Redington Ltd posts Q4 standalone profit at Rs 160.57 cr

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Chennai: Integrated technology solutions provider Redington Ltd has reported a standalone net profit for the January-March 2024 quarter at Rs 160.57 crore, the company said.

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The city-based company had registered a standalone net profits of Rs 124.91 crore during the corresponding quarter of previous year.

For the financial year ending March 31, 2024, the standalone profit stood at Rs 1,081.24 crore, as against Rs 1,071.88 core registered a year ago.

Total income on a standalone basis for the quarter under review surged to Rs 10,510.98 crore, from Rs 9,718.57 crore registered in the same quarter of last year.

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For the financial year ending March 31, 2024, the standalone total income went up to Rs 41,740.56 crore, from Rs 35,862.14 crore registered a year ago.

In a statement issued on Thursday, the company said, supported by solid execution across businesses and geographies, Redington Ltd continues to gain share and secure new opportunities.

In Q4, some of the company's key geographies grew well - India growing at 9 per cent year-on-year, Kingdom of Saudi Arabia growing at 15 per cent year-on-year basis. This record performance is an outcome of continued investments in improving our route to market capabilities, building deeper brand relationships, making breadth of offerings more comprehensive and innovations in business model, Redington Ltd said.

Commenting on the financial performance, company Group CEO V S Hariharan said, "building on the momentum from a strong Q3, Redington's Q4 and FY24 results reflect the continued success of our efforts towards driving profitable growth." "We have adapted with a focus on profitable growth geographies, investing in new revenue streams, and enhancing our capabilities. This fiscal year stands out for achieving stable growth, across all business units, while continuing to maintain leadership position. 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," he said.

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