Redington India shares gain most since August on best half-year revenue growth

Redington India shares gain most since August on best half-year revenue growth
Redington India shares gain most since August on best half-year revenue growth

By CNBCTV18.com 02 November 2022, 17:22 IST (Released)

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Apple remains the company’s largest supplier, contributing 27% of revenue.


wealth desk

To buy to sell Redington to share

Redington Ltd., India’s largest reseller of Apple products, recorded its best half-year revenue growth of 25% between April and September. As a result, stocks ended more than 8% higher, marking their best intraday gain since August.

For the September quarter, the company’s consolidated profit rose 26% to Rs 387 crore from Rs 307.2 crore in the same period a year ago.

The company’s revenue increased by 25% year over year. Apple remains the company’s largest supplier, contributing 27% of revenue.

Of its total revenue, 74% came from the IT sector, while mobility accounted for 25% of revenue. Singapore, India and South Asia contributed 48% of revenue, similar to last year.

The company is present in 30 countries and serves 38 markets, with product lines such as electronics (PCs, desktops, laptops, iPads, MacBooks, smartphones, printers, consumables and accessories), services (digital printing, industry 4.0, cloud resale, outsourcing services, enterprise security solutions) and more.

Shares of Redington India ended up 8.6% at Rs 149.20.

(Edited by : Rukman Krishna)

. shares Redington India gain since august thanks best growth of half-year earnings

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