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Commodity Trading & Distribution company Redington announced Q2FY24 results:<br><br>1. Financial Performance<br>- Redington reported a revenue of Rs 22,297 crore for Q2FY24, showing a 5% sequential growth.<br>- The company achieved an operating profit of Rs 514 crore, representing a 17% growth QoQ.<br>- Earning before interest and taxes (EBIT) and profit after tax (PAT) increased by 17% and 22% respectively, QoQ.<br><br>2. Business Segments<br>- Redington experienced strong performance across all business segments, including Cloud, Mobility, Technology, and Endpoint solutions.<br>- The company successfully navigated through market uncertainties and delivered significant growth in all geographies, including India, the Middle East Africa region, and Turkey.<br>- Cloud business showed significant growth at 25% year-on-year (YoY) due to increasing demand for consumption and associated cloud services.<br><br>V S Hariharan, Group CEO, Redington, said, "Redington's growth and success in this quarter has been fueled by our robust and multipronged strategy. We've harnessed growth opportunities through strategic vendor partnerships, new product launches, and Redington-led initiatives such as direct-to-retail, technology solutions for the enterprise segment, and focused go-to-market for emerging consumer categories. These concerted efforts have not only contributed to a notable market improvement this quarter but have also laid a solid foundation for our sustained success."<br><br>Result PDF