For the January-March quarter, the company posted a net profit of Rs 97 crore. Quarterly revenue jumped 52% on-year to Rs 4,675 crore.
The electronics manufacturer has over two dozen production facilities across the country. Dixon makes smartphones and feature phones for brands such as Xiaomi, Motorola, Samsung and Jio, and is in talks with other global brands for more manufacturing orders.
Sequentially, however, profit after tax remained flat as compared to the previous quarter, while revenue declined 3% quarter-on-quarter.
The company’s EBITDA margin also saw a 90 bps slide to 4.3% as compared to 5.2% in Q4 FY23.Dixon’s board recommended a dividend of Rs 5 per equity share. Dixon shares ended up 0.41% at Rs 8096 Wednesday. Results were announced after market hours.The company’s revenue from mobile phone manufacturing, which contributes the majority to its overall revenue, jumped 119% on-year, but was down 4% quarter-on-quarter to Rs 3,091 crore.Operating profit from its mobile manufacturing business grew 78% on-year, but just 1% sequentially to Rs 105 crore.
The company made hearables and wearables worth Rs 72 crores, telecom products worth Rs 228 crores and IT hardware worth Rs 2 crore during the March quarter.
The company is a part of the government’s production-linked incentive scheme. It recently acquired a majority stake in the manufacturing arm of Transsion Holdings which makes phones for its brands — Infinix, Tecno and Itel.
Revenue from the company’s consumer electronics and appliances division dropped 9% on-year and 3% sequentially to Rs 897 crore, while operating profit declined 19% on-year and 6% on-quarter to Rs 30 crore.
Dixon’s revenue from home appliances increased 5% on-year and 2% sequentially to Rs 294 crore, with operating profit for the division falling 3% on-year to Rs 30.1 crore, a 1% jump from the previous quarter.
For its lighting products, revenue declined 27% on-year but grew 5% sequentially to Rs 197 crore, with operating profit falling 46% on-year to Rs 14.2 crore, which was 8% higher sequentially.
The company’s security systems manufacturing division saw revenues surge 44% on-year but fell 11% sequentially to Rs 179 crore, with operating profit declining 6% on-year and 33% sequentially to Rs 3.4 crore.
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