Apple products distributor Redington (India) rises on strong Q3 results

Redington

09/02/2022 06:49

** Shares in Indian distributor of Apple  AAPL.O  products
 REDI.NS  gain as much as 6.1% to 169.45 rupees, their highest
since Jan 19 
    ** Redington (India) said on Tuesday its Dec-qtr
consolidated net profit more than doubled to 3.88 bln rupees
($51.85 mln); co says it recorded its highest ever quarterly
profit after tax 
    ** REDI's Dec-qtr consolidated rev from ops fell 2.2% to
166.01 bln rupees  urn:newsml:reuters.com:*:nFWN2UJ07G
    ** Co's Q3 profit helped by a 3% fall in total expenses; yr
ago Q3 profit also included a 63.4 mln rupee impairment charge
    ** Q3 rev drop mainly due to lower sales in India business
amid fewer working capital days in the quarter vs yr ago
    ** Sales from distribution of Apple products accounted for
35% of total Q3 rev   
    ** REDI stock more than doubled in 2021     


     ($1 = 74.8350 Indian rupees)

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