Redington Q3 results: PAT up 18% at Rs 400 cr on steady PC, mobile demand

India's Redington reported an 18 per cent jump in quarterly profit on Wednesday as the electronics distributor benefitted from steady demand for computers and mobile phones, its largest segments.

Demand for artificial intelligence-powered computers in the corporate and educational sectors as well as new smartphone launches have helped manufacturers and distributors weather inflation-driven choppy demand. 

 

Redington, which is a distributor of Apple and Samsung products, reported a rise in profit to Rs 400 crore ($45.8 million) for the October-December quarter, from Rs 341 crore last year.

Its revenue from operations rose nearly 14 per cent to Rs 26,716 crore, aided by a 9 per cent growth in its mobile phones business and a 6 per cent growth in the segment that distributes consumer and commercial computers.

Redington's technology solutions group posted a 28 per cent rise in revenue, boosted by an increase in software spending.

The company has been expanding into new countries and sharpening its focus on its cloud services business to expand beyond gadget distribution, which currently brings in a bulk of its revenue.