Redington India rises 9% after strong Q1 performance

New Delhi: Shares of Redington India rallied 9 per cent during the early trade on Thursday after the company reported a strong performance in the June 2022 quarter.

The distributor of Apple products reported a net profit of Rs 149.85 crore in the quarter ended on June 30, 2022, which is 57 per cent higher than the bottomline of Rs 95.59 crore reported in the same quarter the previous year.

Following the development, shares of Redington India rallied to Rs 139.20 on Thursday, before giving up some gains to trade at Rs 138.80 at 10.30 am. The scrip had settled at Rs 127.90 on Wednesday.