Redington Shares Hit Record High on Strong Q1 Results and Apple Sales
Redington shares surged to a record high on August 3 after strong quarterly results boosted investor confidence. The company's stock jumped 7.6% to Rs. 346.20 on NSE during Monday's session, marking a five-session rise of 23%. Redington's role as a major Apple distributor also contributed to the positive market view.
The company reported its highest quarterly revenue and profit in Q1 FY27, with revenue reaching Rs. 34,966 crore. Revenue rose 34% year over year, while profit after tax climbed 77% to Rs. 486 crore. India delivered stronger growth, with revenue rising 63% and profit increasing 60% during the quarter.
Redington linked India's growth to large enterprise deals, stronger PC sales, premium smartphone demand, cloud services, and cybersecurity. These areas helped Redington expand across several technology businesses during the quarter. Apple sales also added another positive signal for the Redington stock, with Apple reporting June quarter revenue of $109.4 billion, marking 16% year-over-year growth.