Redington shares zoom higher as company records the highest PAT ever in history!

Redington shares zoom higher as company records the highest PAT ever in history!

by 5paisa Research Team Last Updated: 2022-02-10T20:35:06+05:30

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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