Dixon Tech Q1 Results: Stock falls 5% after other income aids profit, margins compress

Shares of Dixon Technologies Ltd. fell as much as 5% on Friday, July 31, in response to its June quarter results which turned out to be mixed, compared to analyst expectations.

The company's revenue grew by 21.1% from the same quarter last year to ₹15,548 crore. A CNBC-TV18 poll was expecting the figure to be ₹14,769 crore.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter declined by 4.1% from last year to ₹463 crore from ₹483 crore earlier. The figure is lower than the CNBC-TV18 poll of ₹499 crore.

EBITDA margin during the quarter narrowed to 3% from 3.8% last year. A CNBC-TV18 poll was expecting the figure to be 3.4%.

Net profit for the quarter stood at ₹663 crore from ₹225 crore last year. The profitability figure was aided by a sharp jump in other income, which stood at ₹528 crore from just ₹1.6 crore in the base quarter.

Shares of Dixon Tech fell as much as 5% after the results announcement to ₹13,776. The stock is still up 14% so far for the year.

This is breaking news and will be updated with more.