Redington Limited, a technology solution provider, said on Wednesday, March 11, it has received a favourable order from the Commissioner of Income Tax (Appeals) quashing a demand of ₹230.21 crore out of the total ₹233.66 crore raised by the assessing officer for the Assessment Year 2020–21.
The company said it had earlier informed stock exchanges on September 30, 2023 about receiving the assessment order along with a notice of demand for ₹233.66 crore from the Income Tax Department.
It added that it had contested the demand before the appropriate appellate authorities and has now obtained a favourable order to the extent stated above.
Earlier, on Wednesday (December 31, 2025), the firm had disclosed that it received a GST assessment order of ₹148.33 crore, including interest and penalty, from the additional commissioner, CGST, Gurugram Commissionerate, Gurugram.
The solution provider firm had reported a 2.6% year-on-year rise in net profit for Q3 at ₹413.4 crore, compared with ₹403 crore in the same period last year. The profit after tax margin for the quarter stood at 1.41%, supported by balanced growth across business segments.
Company had informed that key markets contributed to growth, with India recording 25% YoY growth, the UAE 19%, and Africa 14%. Growth was supported by enhanced go-to-market alignment, expansion into new geographies, upcountry penetration, and increased channel partner width across markets.
Shares of Redington Limited closed at ₹247.00 on the National Stock Exchange of India on March 11, down ₹12.30 or 4.74% for the day.
