Redington Ltd’s shares declined more than 3% on Thursday following the announcement of its first-quarter financial results, which revealed a drop in net profit despite a slight increase in revenue.
Q1 FY25 Financial Summary
- Net Profit: Fell 15% year-on-year to ₹217 crore, down from ₹255.2 crore in the same quarter last year.
- Revenue: Increased by 0.5% to ₹21,283.3 crore, compared to ₹21,187.2 crore in the previous year.
- EBITDA: Decreased by 11.3% to ₹372.1 crore from ₹419.3 crore in the corresponding quarter of the last fiscal year.
- EBITDA Margin: Narrowed to 1.8% from 2% year-on-year.
Key Highlights and Business Performance
- Cloud Business: Experienced strong growth of 35% year-on-year.
- Endpoint Solutions: Showed good performance, contributing to overall growth.
- Geographical Performance:
- India: Recorded a 6% year-on-year growth.
- UAE: Achieved a 17% year-on-year growth.
- Africa: Displayed signs of profitable growth recovery.
As of 10:23 AM the shares were trading 3.25% lower at ₹205.43 on NSE.
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