Integrated technology solutions provider Redington Ltd surpassed Rs 79,519 crore in revenues for FY23, a 27 per cent growth along with registering a 20 per cent growth in operating profit, it announced on Tuesday.
At Rs 21,895 crore, overall global revenues for Q4 have been the highest ever for any quarter, growing by 26 per cent YoY and at Rs 590 crore, Redington registered highest ever Q4 operating profit with a 15 per cent growth.
For the full fiscal year, the firm reported a profit after tax (PAT) of Rs 1,393 crore, a growth of 9 per cent.
"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," said 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," he added.
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, Internet of Things (IoT), Edge Computing and Generative AI.
With a focus on digital, the company is investing on upskilling and elevating its partners through dedicated Centre of Excellence (COEs) and providing them with greater accessibility to new age technology products, services and solutions.
Redington has a presence across 38 markets through 60 subsidiary offices, over 300 brand associations and 43,000 channel partners.
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