Shares of Redington Ltd., a prominent supplier of iPhones in India to Apple Inc., surged more than 9 percent on Friday, September 19, after the launch of the iPhone 17 models in the country. The rally came as investors bet on strong demand for Apple’s latest smartphone lineup.
The sales of Apple iPhone 17 commenced in India on September 19, with pre-orders already underway. Redington, which has been distributing Apple products in the country since 2007, remains one of Apple’s key distribution partners in India.
Earlier this month, Apple unveiled its new iPhone 17, iPhone 17 Pro, and iPhone 17 Pro Max. The iPhone 17 will be available in lavender, mist blue, sage, white, and black, with storage options of 256GB and 512GB. Prices start at ₹82,900 for the base iPhone 17 model, while the range goes up to ₹1.9 lakh for the 1TB iPhone 17 Pro Max.
Apple continues to be an important client for Redington. According to its June quarter investor presentation, Apple contributed 34 percent to the company’s topline, compared to 30 percent in FY25.
Redington Q1 Results
In the first quarter of FY26, Redington posted a 12 percent year-on-year growth in net profit at ₹275 crore, against ₹246 crore in the same quarter last year. Revenue for the June quarter stood at ₹25,952 crore, marking a 22 percent increase from ₹21,282 crore a year ago. Earnings before interest, taxes, depreciation, and amortisation rose 8 percent to ₹401 crore from ₹371 crore in the previous year. However, margins came in at 1.6 percent, slightly lower than 1.7 percent in the year-ago period. Sequentially, both revenue and profit were lower despite the year-on-year growth.
Redington share performance
The stock jumped as much as 9.2 percent to its day’s high of ₹314.60.
The stock has rallied over 51 percent in the last 1 year while it has gained 37 percent in last 6 months and 27 percent in the last 1 month. Meanwhile, in the long term, the scrip has given multibagger returns, soaring 429 percent in past 5 years.
Currently, the stock has jumped 98 percent from its 52-week low of ₹159.10, hit in October 2024. Meanwhile, it touched its 52-week high of ₹334.90 in June 2025.
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