Indian Apple distributor Redington posts 18% quarterly profit rise
Redington, a key distributor of Apple products in India, saw its profit increase to 4 billion rupees (US$45.8 million) for the quarter ending December, up from 3.41 billion rupees the previous year. The company’s operational revenue grew by nearly 14% to 267.16 billion rupees, driven by a 9% increase in its mobile phones division and a 6% rise in its consumer and commercial computer distribution segment.
Reuters:
Demand for artificial intelligence-powered computers in the corporate and educational sectors as well as new smartphone launches have helped manufacturers and distributors weather inflation-driven choppy demand.
Redington’s technology solutions group posted a 28% rise in revenue, boosted by an increase in software spending.
The company has been expanding into new countries and sharpening its focus on its cloud services business to expand beyond gadget distribution, which currently brings in a bulk of its revenue.
MacDailyNews Take: Bodes well for Apple’s growth in India.
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