Dixon Tech Q3 PAT up 12% YoY to Rs 52 crore, buoyed by lower expenses

Dixon Technologies (India) reported 12% rise in consolidated net profit to Rs 52 crore despite a 22% fall in income to Rs 2,405 crore in Q3 FY23 over Q3 FY22.

On the segmental front, Consumer Electronics revenue declined by 39% YoY, Lighting Products revenue contracted by 39% YoY and Mobile & EMS Division revenue contracted by 3% YoY. Home Appliances segment and Security Systems division, however, recorded revenue growth of 35% and 5%, respectively, on YoY basis.

Expenses during the quarter declined by 23% YoY to Rs 2,294 crore, due to a 2.6% YoY fall in raw material costs.

Consequently, EBITDA improved by 10% to Rs 114 crore in Q3 FY23 from Rs 104 crore in Q3 FY22. EBITDA margin in Q3 FY23 was 4.7% as against 3.4% in Q3 FY22.

Profit before tax in the third quarter stood at Rs 70 crore, up by 11% from Rs 63 crore recorded in the same period last year.

Dixon Technologies (India) is the largest home-grown design-focused and solutions company engaged in contract manufacturing products in the consumer durables, lighting and mobile phones markets in India.

The scrip slumped 19.80% to currently trade at Rs 2698.55 on the BSE.

On the BSE, over 2.08 lakh shares had changed hands in the counter so far as against an average trading volume of 6684 shares in the past two weeks.

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