Dixon Technologies (India) reported a 151.7% surge in consolidated net profit to Rs 45.70 crore on 52.9% jump in net sales to Rs 2,855.07crore in Q1 FY23 over Q1 FY22.
The company’s profit before tax climbed 157.1% to Rs 61.97 crore in the quarter ended 30 June 2022 as against Rs 24.10 crore posted in the same period last year.
Consolidated EBITDA grew 108% to Rs 100.54 crore in Q1 FY23 from Rs 48.27 crore recorded in Q1 FY22. EBITDA margin improved to 3.5% in the first quarter as compared to 2.6% reported in the corresponding quarter previous year.
Total expenses spiked 51.52% to Rs 2,793.44 crore in Q1 FY23 as compared with same period last year. During the quarter, cost of raw materials consumed surged 56.16% to Rs 2,766.70 crore and employee benefits expense grew 51.51% to Rs 54.74 crore.
Revenue from Consumer Electronics segment was at Rs 932.17 crore (down 26.15% YoY), Lighting Products segment revenue stood at Rs 231.23 crore (up 50.65% YoY), revenue from Home Appliances segment was at Rs 255.60 crore (up 262% YoY). Meanwhile, Mobile & EMS division revenue was at Rs 1,304.94 crore (up 326.65% YoY) and revenue from Security Systems stood at Rs 131.13 crore (up 74.51% YoY).
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.
Shares of Dixon Technologies (India) were down 1.70% to Rs 3,636.25 on the BSE.
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