Redington’s shares rise 14% as second-quarter profit rises 32% year-on-year to Rs 388 crore; turnover increased by 17%

Shares of Redington rose as much as 14% to a day’s high of Rs 284 on the NSE on Thursday, November 6, after the technology distributor reported its strongest ever quarterly performance, driven by robust growth across markets and business segments.The company posted consolidated global revenue of Rs 29,118 crore, up 17% year-on-year (year-on-year), while net profit rose 32% year-on-year to Rs 388 crore, compared to Rs 293 crore in the same quarter last year. Profit after tax was 1.57% (excluding Arena).

Growth was broadly spread across regions; India and the UAE each registered 23% year-on-year growth, while Saudi Arabia and Africa grew 10% respectively, continuing their upward trend.

“Our second quarter results highlight the strong momentum in our Software Solutions business, alongside the continued growth of our core hardware portfolio,” said VS Hariharan, Managing Director and Group CEO of Redington Ltd. He added that as companies modernize for an AI-driven future, Redington is enabling this transformation through scalable offerings in cloud, cybersecurity and software services.

The company’s Software Solutions group grew 48% year-over-year, driven by demand for cloud, software and cybersecurity services. The Mobility Solutions Group increased 18% year-on-year on strong demand in the premium segment and new product launches, while the Technology Solutions Group and Enterprise Solutions Group achieved growth of 9% and 11% respectively.

Redington said it continues to evolve from a distribution-led organization to a comprehensive technology solutions platform, expanding its capabilities in AI-enabled services, cybersecurity and managed services to tap opportunities in emerging technologies and digital ecosystems. September witnessed robust investor interest amid iPhone 17 sales. Investor attention has remained strong as Redington handles the supply chain for IT and mobility products, including Apple’s iPhone. The company has a long-standing partnership with Apple, dating back to a 2007 distribution agreement for Apple products in India. Redington manages logistics, warehousing and distribution to resellers and retailers in India, the Middle East, Turkey, Africa and South Asia. Redington is a technology solutions distributor with operations in more than 40 markets. The company works with more than 450 brands and 70,000 channel partners and provides end-to-end distribution of IT, telecom, lifestyle and solar products. Redington focuses on bridging the gap between technology innovation and adoption, positioning itself as a key enabler in digital transformation.

At around 12.45 pm, the company’s shares were trading at Rs 281, up 12.3% from the last close on the NSE. Redington shares are up 42% since the start of the year.