Integrated technology solutions provider Rington Ltd on Wednesday (February 5) reported a 15.8% year-on-year (YoY) increase in net profit at ₹403 crore for the third quarter that ended December 31, 2024, against ₹347.9 crore in Q3 FY24.
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Revenue from operations increased 13.7% to ₹26,716 crore against ₹23,505 crore in the corresponding period of the preceding fiscal.
The company’s EBITDA was up 16.5% to ₹602.4 crore in the third quarter of this fiscal over ₹517 crore year-on-year.
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The EBITDA margin stood at 2.3% in the reporting quarter versus 2.2% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
In Q3 FY25, Redington’s cloud business continued its strong momentum, recording a 42% YoY growth. The technology solutions group (TSG) segment also posted a robust 28% YoY growth, driven by increased demand and large-scale project wins.
The company witnessed strong growth in the UAE, where revenue rose by 24% YoY, with signs of recovery emerging in Saudi Arabia and Turkey. Africa maintained its growth momentum. The India market saw an 18% YoY increase.
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Redington’s board has unanimously approved the appointment of VS Hariharan as managing director and group chief executive officer for a five-year term from February 5, 2025, to February 4, 2030. The appointment is subject to approval from the company’s members and any other necessary regulatory clearances.
VS Hariharan, Group CEO of Redington, said, “Our record-breaking Q3 FY25 performance is our commitment to innovation, adaptability, and execution excellence. By seamlessly integrating an omnichannel strategy, we are bridging the gap between brands, consumers, SMBs, and enterprises — delivering tailored go-to-market solutions and unlocking new growth opportunities.”
The results came after the close of the market hours. Shares of Redington Ltd ended at ₹214.70, up by ₹12.05, or 5.95%, on the BSE.
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