Redington shares surge 13% after September quarter profit rises 32%

Shares of Redington Ltd., Apple's official redistributor in India, rose as much as 13.34% to hit an intraday high of ₹283.65 a day after it reported its September quarter earnings. On the BSE, Redington jumped rose as much as 13.26% to hit an intraday high of ₹283.50.

Redington's net profit in the second quarter of current financial year rose 32% to ₹388 crore from ₹293 crore in the same period last year.

The company's revenue from operations advanced 17% to ₹29,076 crore as against ₹24,896 crore.

Redington's operational performance however witnessed a decline as its EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) also known as operating profit declined 15% to ₹389 crore and its EBITDA margin contracted by 50 basis points to 1.34%.

"The growth reflects Redington’s continued evolution into a technology solutions powerhouse, scaling next-generation offerings across cloud, cybersecurity, software solutions and professional services," Redington said in a press release.

Growth momentum remained broad-based. India and UAE grew 23% YoY each, while KSA delivered 10% growth and Africa continued its upward growth cycle. The results were supported by enhanced go-to-market alignment, deeper brand collaborations, and an expanded solutions portfolio, the Chennai-based company added.

“Our Q2 results highlight the strong momentum in our Software Solutions business, alongside continued growth in our core hardware portfolio. As enterprises modernize infrastructure, secure digital ecosystems, and prepare for an AI-driven future, Redington is helping them accelerate this transformation through scalable, high-value offerings across Cloud, Cybersecurity, and Software Services. Our global reach and partner ecosystem positions us well to capture sustained growth as digital transformation cycles intensify,” said VS Hariharan, Managing Director and Group CEO, Redington.

During the quarter, Redington's software solutions group rose 48% supported by cloud software and cyber security momentum through deeper brand and partner engagements.

The company's Mobility Solutions Group (MSG) grew 18% annually, driven by higher demand in the premium segment, the company added.

As of 11:23 am, Redington shares traded 12.43% higher at ₹281.35, outperforming the NIFTY50 index which was down 0.2%.