Dixon Technologies (India) Ltd.'s consolidated net profit and revenue surged to more than twofold in the first quarter of the current financial year, topping analysts' estimates.
The electronic manufacturing services firm's bottom line stood at Rs 140 crore in the April–June period, according to an exchange filing on Tuesday.
Dixon Q1 FY25 Earnings Highlights (Consolidated, YoY)
Revenue rose 101.1% to Rs 6,580 crore (Bloomberg estimate: Rs 5,488 crore).
Ebitda rose 88% to Rs 248 crore (Estimate: Rs 212 crore).
Margin narrows to 3.8% versus 4% (Estimate: 3.9%).
Net profit rose 108.9% to Rs 140 crore (Estimate: Rs 108 crore).
The beat in revenue was driven by the Mobiles and EMS (electronic manufacturing services) division, which grew by a whopping 189% to Rs 5,192 crore. Its contribution to overall revenue has gone up to 79% versus 55% last year. Margin in Mobiles division has also improved by 40 basis points to 3.3%.
Revenue in Consumer Electronics and Appliances division fell by 3%, while Home Appliances grew 18% as compared to last year. Lighting division continued to remain subdued.
Margin, barring Mobiles and EMS division, remained flat or reported a fall as compared to last year.
Return on capital employed and return on equity also improved. ROCE came in at 38.4%, up 40 basis points; while ROE was at 27%, up 180 basis points.
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