Redington reports strong double-digit growth in Q4 and FY'22 Results
CHENNAI, India, May 24, 2022 /PRNewswire/ -- Redington (India) Ltd (NSE: REDINGTON), on 21st May, 2022, announced its financial results for the quarter ended March 31, 2022 (Q4 FY'22) and full financial year FY'22. The firm reported strong performance across all business segments with overall revenue growth of 12% YoY for the quarter. As a major milestone, Redington has surpassed Rs. 62,000 crores in revenues for the full year FY'22. PAT growth has been strong at 69% for the year with the business generating cash flow from operations of Rs. 989 crores.
The company's growth has been driven by continued demand for technology products, solutions and services that can enable digital transformation, hybrid work, modernization of IT, data center and applications, automation, data analytics, cybersecurity and cloud. While the company has registered growth and positive momentum across all their key business segments, Redington's growth has been significantly higher than industry in its strategic Cloud portfolio initiative.
Driven by its aim to democratize cloud-based technologies in India, Redington has launched CloudQuarks, a flexible Digital platform with self service capabilities that enables seamless onboarding of Cloud Products and Services of choice for all partners and customers. The company is also simplifying procurement and adoption of various emerging technologies in the field of additive manufacturing (3D Printing) and sustainable solar energy.
"FY22 has been an immensely satisfying year for us in terms of broad-based business growth. As the journey towards digitalisation accelerates, we have been focused on bringing innovations faster to market, bridging the digital divide for individuals and organisations. Our trust-based relationships with vendors and partners are a key enabler in our growth fueled by new age technologies and cloud based adoptions," said Mr. Rajiv Srivastava, Managing Director, Redington.
As digital transformation took the center-stage, Redington as a market leader worked closely with vendors, hyperscalers and channel partners to enable seamless availability of cutting-edge technology solutions and services. These technologies are in the domain of Artificial Intelligence, Augmented and Virtual Reality, 5G based devices and applications, Software Defined Borderless Networks, Smart Analytics, Blockchain and Sustainability. In FY'23 the company will continue to focus on enhancing its digital and platform capabilities to improve customer, vendor, and partner experience.
"The world is getting technologically upgraded faster than ever before and that clearly plays to our strengths," added Mr. Srivastava.
*The detailed Financial Report for Q4 and FY 2022 can be accessed here LINK
Certain statements in this release are forward-looking statements. The business involves various risks, and uncertainties that could result in the actual results to differ materially from those indicated here. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward looking statement that may be made from time to time by or on behalf of the Company.
About Redington (India) Ltd
Redington India provides end-to-end supply chain solutions for all categories of Information Technology, Telecom, Lifestyle, Healthcare, and Solar products. It has footprints across 37 markets through 60 subsidiary offices. With over 290+ brands associations and 39,500+ channel partners, it is transforming the distribution and supply chain ecosystem through synergy between innovation and technology adoption.
View original content to download multimedia:https://www.prnewswire.com/news-releases/redington-reports-strong-double-digit-growth-in-q4-and-fy22-results-301553824.html