Q2 Results impact: Redington shares surge 15% after net profit jumps 32% to Rs 388 crore, Indian Hotels down 6%

Q2 Results impact

The shares of Apple products-distributor in India Redington jumped in trade on November 6 after the company released better-than-expected results for the second quarter of the financial year 2026, boosting investor sentiment. The shares closed around 15 percent higher at Rs 287.15 apiece.

The shares of Indian Hotels Company (IHCL) meanwhile dropped over 6 percent to close in the deep red at Rs 697 apiece.

Redington Q2 Results LIVE:

Redington on November 5 reported a net profit of Rs 388 crore for the July-September quarter of the financial year 2026. This marks a rise of more than 32 percent year-on-year (YoY) from the Rs 293 crore net profit reported in the same period of the previous financial year.

The firm's revenue from operations meanwhile rose around 17 percent YoY to Rs 29,076 crore during the quarter under review, as against Rs 24,896 crore in the year-ago period.

Redington share price:

Redington shares closed at Rs 287.15 apiece, after hitting an intraday high of Rs 293.30 apiece. This is the highest level seen by the stock in nearly one month.

The stock has gained nearly 11 percent in the past five days, and around 15 percent in the past six months. The stock has rallied nearly 44 percent in 2025 so far, and has a P/E ratio of around 11.

IHCL Q2 Results:

The Indian Hotels Company (IHCL) on November 4 reported a consolidated net profit of Rs 285 crore for the July-September quarter of the financial year 2026. This marks a 49 percent YoY decrease from the Rs 554.58 crore net profit reported in the same period last year, including a one-time gain.

The firm’s revenue from operations meanwhile rose nearly 12 percent YoY to Rs 2,041 crore.

Brokerages on IHCL:

IHCL reported an in-line quarter, although consolidated revenue missed estimate by 2 percent, said JM Financial. “Revenue for IHCL’s standalone business grew 2% YoY to INR 10.6bn, growth being impacted by renovation-related closures at key owned assets and the high base of last year. Standalone EBITDA of INR 3.7bn, contributed c. 65% of consolidated earnings and grew at 8% YoY,” it said.

"IHCL continued its accelerated growth momentum in 1HFY26 with 46 signings to reach a portfolio of 570 hotels and opened 26 hotels, crossing a milestone of 250+ operating hotels in India with over 25,000 rooms. The management stated that the business has rebounded significantly, and business on books looks strong for the next 2 months. IHCL remains confident of achieving the guidance of double digit revenue growth for the full year. We expect the company to report 12%/15% CAGR in Revenue/EBITDA over FY25-28E aided by 7% CAGR in ARR and gradual improvement in occupancy," the domestic brokerage said.

The firm has an 'Add' rating on the stock, with a target price of Rs 835 per share.

Brokerage Nirmal Bang said that the firm’s second quarter results were hurt by unusually heavy rains that hit hospitality and a high base. However, it expects a strong second half of fiscal 2026 on robust bookings and benefits from renovations

UBS anticipates stronger momentum starting November, with most renovations across Taj Delhi and Goa properties being completed. The international brokerage kept a ‘Buy’ rating on the stock, with a target price of Rs 900 per share.

JP Morgan remains ‘Overweight’ on the stock, with a target price of Rs 890 per share. It said that the company’s key markets will remain resilient, supporting pricing power and occupancy rates.

Also read: Our LIVE blog on Q2 updates