iPhone 17 India launch today: Why is Redington share price skyrocketing over 9%?
Redington Ltd., a key iPhone distributor in India, saw its shares rise over 9% on September 19 following the iPhone 17 launch. The company reported a 12% growth in net profit for Q1 FY26, with strong Apple sales contributing to its revenue.
iPhone 17 India launch: Shares of Redington, a prominent supplier of iPhones in India to Apple Inc., surged more than 9 per cent 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 today, 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 per cent to the company’s topline, compared to 30 per cent in FY25.
Redington Q1 Results
In the first quarter of FY26, Redington posted a 12 per cent 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 per cent increase from ₹21,282 crore a year ago.
Earnings before interest, taxes, depreciation, and amortisation rose 8 per cent to ₹401 crore from ₹371 crore in the previous year. However, margins came in at 1.6 per cent, slightly lower than 1.7 per cent in the year-ago period. Sequentially, both revenue and profit were lower despite the year-on-year growth.
Redington share performance
Amid the iPhone 17 launch in India, Redington share price jumped as much as 9.2 per cent to its day's high of ₹314.60.
The stock has rallied over 51 per cent in the last one year, while it has gained 37 per cent in the last 6 months and 27 per cent in the last one month. Meanwhile, in the long term, Redington stock has given multibagger returns, soaring 429 per cent in the past five years.
Currently, Redington share price is trading 98 per cent higher than 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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