Technology solutions provider Redington Ltd on Tuesday (August 1) reported a 21.2 percent year-on-year (YoY) decline in net profit at Rs 248.8 crore for the first quarter that ended June 30, 2023.
In the corresponding quarter last year, Redington posted a net profit of Rs 315.8 crore, the company said in a regulatory filing.
In the quarter, total revenue stood at Rs 21,187.2 crore during the period under review, increased 26.1 percent against Rs 16,803.1 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA falls 9.2 percent to Rs 419.2 crore in the first quarter of this fiscal over Rs 461.8 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 2 percent in the reporting quarter as compared to 3 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The results came after the close of the market hours. Shares of Redington Ltd ended at Rs 183.15, up by Rs 2.85, or 1.58 percent on the BSE.
