India's Redington Reports 18% Quarterly Profit Surge
Redington, India's leading electronics distributor, has announced an 18% increase in quarterly profits, driven by robust demand for computers and smartphones.
Factors Contributing to Growth:
* Surge in demand for computers, particularly AI-powered devices, in corporate and education sectors.
* New smartphone launches boosting mobile phone sales.
Financial Highlights:
* Profit surged to 4 billion rupees ($45.8 million) for October-December quarter, up from 3.41 billion rupees the previous year.
* Revenue rose by nearly 14% to 267.16 billion rupees.
* Mobile phones business grew by 9%, while consumer and commercial computers saw a 6% increase.
* Technology solutions revenue jumped by 28%, driven by increased software spending.
Expansion Strategy:
Redington is expanding into new markets and intensifying its focus on cloud services to diversify revenue streams beyond gadget distribution.