Redington declined 6.85% to Rs 193.80 after the company's consolidated net profit declined 11.42% to Rs 347.88 crore despite of 8.45% increase in revenue to Rs 23,504.97 crore in Q3 FY24 over Q3 FY23.
Profit before tax declined 12.21% YoY to Rs 433.92 crore in Q3 FY24.EBITDA stood at Rs 562 crore in Q3 FY24, registered a de-growth of 9.64% as compared with Rs 622 crore recorded in same quarter last year.
On the segmental front, SISA (Singapore, India & South Asia) revenue was at Rs 11,409.22 crore (up 16.19% YoY) while ROW (Rest of the World) was at Rs 12,107.72 (up 2.13% YoY) crore.
Global revenue stood at Rs 23,550 crore in Q3 FY24, registering the growth of 8% YoY while net profit declined 10.26% YoY to Rs 341 crore in Q3 FY24.
For the quarter, the company's ROCE was 22% and ROE was 19%. Net debt to equity was at 0.3x as on 31 December 2023.
Supported by solid execution across businesses and geographies, Redington continues to gain share and secure new opportunities in the markets they compete in. The company emphasized that this record performance is an outcome of continued investments in improving their technology capabilities, building deeper brand and partner relationships, comprehensive breadth of offerings and innovations in go to market and business models, the company stated in regulatory filing.
V.S. Hariharan, Group CEO, Redington, said, Our growth in FY24, has been driven by reinventing ourselves across many dimensions. We made significant investments in new revenue streams, focused go to market routes, 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. While technology distribution has been our core value proposition, we are focused on building competencies and capabilities to enable and resell, hyperscaler and software services, and some managed services for private and public Cloud.
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In this era of digital transformation and constant market shifts, we are meeting our customer needs by implementing initiatives that deliver exceptional value. This customer-centric approach contributes to our market share gains and strengthens our growth trajectory. We recognize the critical role our partners play in our ecosystem, and we're committed to providing them with the resources and support for our mutual success.
Redington is a leading distributor of IT and mobility products and a provider of supply chain management solutions and support services in India, Singapore, South Asia, Middle-East, Turkey and Africa. REDIL procures IT and mobility products from vendors, handles distribution logistics, sells the same to resellers and dealers.
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