Apple products distributor Redington (India) hits record high on strong Q4

Redington

28/05/2021 06:01

** Shares of Indian distributor of Apple  AAPL.O  products
 REDI.NS  gain as much as ~20% to record high of 219.75 rupees,
locked in upper circuit
    ** REDI on Thursday said March-qtr consol. net profit more
than doubled to 3.03 bln rupees ($41.81 mln)  urn:newsml:reuters.com:*:nFWN2NE13L
    ** REDI Q4 profit helped by 22.4% rise in consol. rev from
operations, as India distribution business rev jumps 46% and
overseas business rev rises ~10%
    ** Says sales from distribution of Apple products comprised
more than a third of total Q4 rev    
    ** More than 2.1 mln shares traded as of 0454 GMT, 5.4x
their 30-day moving avg of ~399,000 shares - Refinitiv data
    ** Up to Thursday's close, stock rose 38.5% YTD


($1 = 72.4630 Indian rupees)

 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))