Dixon Technologies Ltd experienced a notable surge of nearly 2% in its stock value following its remarkable performance in the second quarter of the financial year 2023-24. The company reported a consolidated net profit of Rs 113.36 crore, marking an impressive increase of 46.99% from the previous year’s Rs 77.12 crore.
In addition to the stellar profit figures, Dixon Technologies reported a substantial 27.83% YoY rise in consolidated revenue from operations, reaching Rs 4,943.18 crore compared to Rs 3,866.77 crore in the corresponding period last year. The remarkable growth in revenue was particularly driven by a significant 77% year-on-year increase in the mobile segment revenue, underlining Dixon Tech’s strong market presence in the mobile technology sector.
During a Board meeting held on October 26, 2023, Dixon Technologies (India) Limited’s Employees Stock Option Plan for 2023 was approved, indicating the company’s commitment to fostering a positive work environment and rewarding its employees.
Examining the financial metrics, Dixon Technologies reported an Earnings before Interest, Tax, Depreciation, and Amortization (EBITDA) of Rs. 199 crore in Q2FY24, a notable improvement from the Rs 145 crore reported in the same period of the previous year. The EBITDA margin also showed positive growth, standing at 4%, compared to 3.8% in Q2FY23.
Despite a slight dip in stock value on October 26, closing at Rs 5,356.05 on the National Stock Exchange (NSE), Dixon Tech made a strong rebound. At 11:06 AM, the company’s shares were trading 1.55% higher at ₹5,421.00, reflecting investor confidence in the company’s robust financial performance and strategic initiatives.
