Redington India posts Q1 standalone profit at Rs 149.85 cr

Supply chain solutions provider Redington India Ltd has reported standalone profits for the quarter ending June 30, 2022, at Rs 149.85 crore, the company said on Thursday.

The city-headquartered company had registered a standalone net profit of Rs 95.59 crore during the corresponding quarter previous year. For the year ending March 31, 2022, the standalone profit was Rs 935.07 crore.

The standalone total income during the quarter under review grew to Rs 7,616.35 crore from Rs 5,366.91 crore registered in the same period last financial year. For the year ending March 31, 2022, the standalone total income stood at Rs 27,506.47 crore.

In a statement, the company said it has been a strong quarter for the company with an aggressive performance across all business segments and geographies.

”We are very pleased with the results of the first quarter of FY23. While the growth of the technology industry is stabilizing globally, our execution aligned to the strategic pillars of innovation, technology, and partnerships is driving strong, differentiated outcomes,” company Managing Director, Rajiv Srivastava said.

”At Redington, we are working towards addressing technology friction — the gap between innovation and adoption across different sectors by democratizing accessibility and availability of a wide range of technology products, solutions, and services,” he said.

Redington said it has entered into a multi-year strategic collaboration agreement with Amazon Internet Services Pvt Ltd, to offer a range of products and management of Amazon Web Services Cloud in India.

”This engagement will help Redington enhance its cloud capabilities to drive growth in existing markets and expand into Tier II and III cities through its partners,” the statement said. During the current financial year, Redington India would continue to focus on enhancing its digital and platform capabilities to improve customer, vendor, and partner experience, the statement added. PTI