Chennai-based Redington Ltd reported a 26 per cent increase in net profit to ₹387 crore for the second quarter ended September 30. The company registered its highest ever global revenues, which grew by 25 per cent year-on-year to ₹19,080 crore.
While the global PC industry declined 15 per cent in shipments during the quarter, the company’s PC business grew by 23 per cent. Its revenues from Cloud grew by 67 per cent in this quarter, says a release. The company provides end-to-end supply chain solutions for all categories of IT, telecom, lifestyle and solar products.
Rajiv Srivastava, Managing Director, Redington Ltd, in the release said, in the second quarter, the company continued its transformation journey to shift towards a customer-choice omni-channel business model. “We strengthened our capabilities to accelerate cloud adoption across different sectors. 5G is expected to further open up new opportunities across enterprises, MSMEs, start-ups and consumers and our focus will be to enable wider access to such technologies by bridging the gap between innovation and adoption,” he said.
Cloud business
Redington strengthened its cloud capabilities by entering into a strategic partnership with Google Cloud India to drive adoption of Google Workspace and Google Cloud with SMBs, education and public sector, mid-market, and enterprise segments. In the previous Quarter, Redington had entered into a multi-year Strategic Collaboration Agreement (SCA) with Amazon Internet Services Private Limited (AISPL), to drive adoption of Amazon Web Services (AWS) Cloud across all geographies they operate in
At the time of filing this report on Thursday, the share price of Redington was trading at ₹157.30 — up by ₹9.20 (6.21 per cent) a piece.
