Redingtion India rises most in 7 months after June-qtr profit beats

Redington

14/08/2020 08:35

** Shares of IT product distributor  REDI.NS  rise as much
as 18.6% to 111.55 rupees, their biggest intraday pct gain since
Jan. 13
    ** The Chennai-based co on Thursday reports Q1 consolidated
net profit of 887.8 million rupees ($11.87 mln), beating
analysts' estimates for a profit of 354.2 mln rupees, according
to Refinitiv data 
    ** Stock hits highest level since March 13
    ** REDI says consolidated revenues from ops down 8.4% to
106.97 bln rupees  urn:newsml:reuters.com:*:nFWN2FF0D0
    ** Shares are down 20.2% this year, as of last close
    
   

($1 = 74.8250 Indian rupees)
    
    

 (Reporting by Philip George in Bengaluru)
 ((P.George@thomsonreuters.com; +91 8061822657; Reuters
Messaging: p.george@thomsonreuters.net))