Companies

Redington PAT up 17% at ₹355 crore in Q4

BL Chennai Bureau | | Updated on: May 23, 2022

Company announces dividend of ₹6.60 per equity share of ₹2 each

Chennai-based Redington India that provides end-to-end supply chain solutions for all categories of IT, telecom, lifestyle, healthcare and solar products, reported a 17 per cent increase in consolidated net profit of ₹355 crore for the fourth quarter ended March 31, 2022 as against ₹303 crore for the same quarter last year. Revenue increased by 11 per cent to ₹17,301 crore (from ₹15,530 crore).

During FY22, Redington posted an annual revenue of ₹62,644 crore (from ₹56,945 crore). Net profit during the year increased to ₹1,315 crore (₹788 crore), says a company announcement to the Bombay Stock Exchange (BSE).

The company announced a dividend of ₹6.60 per equity share of ₹2 each (330 per cent of face value).

The company’s growth has been driven by continued demand for technology products, solutions and services that can enable digital transformation, hybrid work, modernisation of IT, data center and applications, automation, data analytics, cybersecurity and cloud, says a company press release.

“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 Rajiv Srivastava, Managing Director, Redington.

On the BSE, Redington’s share price on Monday marginally fell to ₹143.05.

Published on May 23, 2022
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