Redington shares zoom higher as company records the highest PAT ever in history!
Redington had a strong Q3 show where EBITDA grew 22%, and Net profit grew 103%.
This mid-size leading products distributor company Redington has rallied more than 8% today reaching near to its 52-week high. This action is due to a strong Q3 show, where EBITDA grew 22%, and Net profit grew 103%.
Q3 earnings report:
On a consolidated basis, Redington Revenue declined 2% to Rs 16,619 crore on a YoY. Its Indian distribution division revenue declined by 7%, in that ProConnect India (PCS) slumped by 6% YoY on account of covid related slowdown; revenue performance largely led by IT segment. Overseas business revenue grew by 2%. META revenue performance is largely led by the IT Enterprise segment.
EBITDA grew 22% to Rs 544.3 crore on YoY, however, margins stayed flat on YoY stood at 3%. Net Profit grew 103% to Rs 388 crore on YoY. India business EBITDA grew by 12%; overseas business EBITDA had a strong double-digit EBITDA and PAT growth.
Redington is a leading distributor of products and integrated supply chain solution provider in the field of technology and communications in India as well as across the globe. Being the second-largest distributor of IT products in India, it is a premier distributor of products for 200 + global technology vendors. It also leverages its presence in the field of repairs and maintenance of technology products & infrastructure. Redington (India) Limited has its major presence in Turkey, UAE, Singapore, Saudi Arabia, Nigeria & Qatar in Global markets.
At 3.00 PM, Redington closed at Rs 173.9, up by 6.82% for the day.
Also read: Hindalco Q3 net profit almost doubles, revenue jumps 44%
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