MUMBAI: Dixon Technologies today reported a 60 per cent year-on-year rise in consolidated net profit for the quarter ended March at Rs 44.3 crore, which was below analysts’ estimates of Rs 51.6 crore.
The company’s consolidated revenue from operations rose 146 per cent in the reported quarter to Rs 2,109.7 crore, which was slightly below analysts’ estimates.
The company’s operating performance in the quarter was strong as consolidated earnings before interest, tax, depreciation and amortization jumped 45 per cent on-year to Rs 80.8 crore.
However, the company’s margins shrank sharply to 3.8 per cent from 6.5 per cent likely due to higher input costs.
The company’s consumer electronics division had a stellar quarter as revenues tripled on-year to Rs 1,178.6 crore.
The lighting products segment saw sales rise 50 per cent, while the home appliances business grew 63 per cent in the quarter.
The company’s board also approved a final dividend of Re 1 per share for the financial year ended March.
Shares of Dixon Tech ended 2.3 per cent higher at Rs 3,991 on the National Stock Exchange.
