Dixon Technologies Q2 profit falls 49 pc to Rs 344 crore

Dixon Technologies' Q2 profit falls 49 pc to Rs 344 crore

Mumbai, Oct 30

Despite the decline in bottom-line performance, the company's revenue from operations surged 46.7 per cent year-on-year to Rs 21,794 crore in the July-September quarter, compared with Rs 14,855 crore a year earlier, driven by continued growth across its manufacturing businesses, as per its regulatory filing.

At the operating level, earnings before interest, tax, depreciation and amortisation (EBITDA) rose 6.4 per cent to Rs 597 crore from Rs 561 crore in the year-ago period.

However, profitability remained under pressure as EBITDA margin narrowed to 2.7 per cent from 3.8 per cent a year ago, according to its stock exchange filing.

The company's other income witnessed a sharp decline during the quarter, falling to Rs 69 crore from Rs 496 crore in the corresponding quarter of the previous fiscal year.

The drop in other income significantly impacted overall profitability despite strong revenue growth and higher operating earnings.

The shares of the company closed 4.25 per cent or Rs 488 lower at Rs 11,000 on the National Stock Exchange (NSE).

In last five days, the shares were dropped over 1 per cent or Rs 119. The downturn pronounced on longer timeframe as it slipped 16.03 per cent or Rs 2,100 in last one month.

The stock has delivered negative return of 1.49 per cent or Rs 166.50 in last six months. On year-to-date (YTD) basis, the shares were dropped 9.02 per cent or Rs 1,091. In last one year, investors logged 29.69 per cent or Rs 4,644 negative return.

Meanwhile, in previous quarter (Q1 FY27), the company's revenue grew by 21.1 per cent from the same quarter last year to Rs 15,548 crore.

— IANS