Redington Ltd. Reflects Optimistic Growth and Challenges with Strong Q2 Profits

Redington Ltd. reported a consolidated profit of Rs 282.88 crore for the July-September 2024 quarter, showcasing growth across all business units, notably in the cloud and mobility sectors. The company faced challenges in Turkey but maintained strong momentum in India and the UAE.

Redington Ltd., a leading integrated technology solutions provider, has announced consolidated profits for the July to September 2024 quarter amounting to Rs 282.88 crore. This performance is bolstered by strong growth across its business units, according to a statement released this Wednesday.

The Chennai-based company's recent profit figures reflect a decrease from the Rs 311.64 crore reported during the same period last year. Despite this dip, half-yearly profits reached Rs 499.92 crore, compared to Rs 566.84 crore recorded in the previous year.

Significantly, total income during the quarter increased to Rs 24,962.22 crore from Rs 22,296.69 crore year-on-year. Group CEO V S Hariharan attributed the performance to a 53% growth in the cloud business and 16% in mobility, highlighting favorable results from India and the UAE.

(With inputs from agencies.)